According to William Milbury, owner of Milbury & Company, LLC, the firm has purchased two properties in Padanaram Village; 304 Elm St., located at the corner of Bridge and Elm Sts. and the parking lot located across from the building.
Milbury said, "I am excited to become a part of the renaissance of Padanaram Village. The purchase of these two properties is just the beginning of the anticipated transformation of the village back to a vibrant center of commerce and community. The purchase of the 304 Elm St. building was accomplished by separating the 304 Elm St. property from the adjacent vacant buildings that once housed the Village Market, Village Café and Not Your Average Joe's offices. Creating separate parcels will now allow a purchaser to focus on redeveloping the vacant buildings."
The 304 Elm St. building and parking lot were purchased for $965,000. The purchase was financed by BayCoast Bank's commercial lending division.