Civic, bank and business leaders gathered June 12 for celebratory event

SPRINGFIELD—Florence Bank broke ground Tuesday on its second Hampden County branch, at 1444 Allen St. in Springfield, and leaders said the full-service location will open later this year.

“We’re coming to Springfield,” John Heaps Jr., Florence Bank’s president and CEO, told a crowd of roughly 50 people who gathered for the celebratory event. “Our focus is on our customers and on helping to reinvigorate the community.”

Heaps grew up in the Springfield area, and he said the expansion into Springfield “is like coming back home. I used to hang around here. This feels great.”

Likewise, Nikki Gleason, branch manager for the Allen Street location, said, “Springfield is my home, where I work, volunteer and spend much of my time. I am thrilled to be serving as the branch manager and happy to be working for Florence Bank. I look forward to seeing many familiar faces and meeting new customers and friends.”

Last September, Florence Bank opened its first branch in Hampden County at 1010 Union St. in West Springfield. The Springfield branch marks the second of an anticipated four branches in the region.

“We’re looking at opening two more,” Heaps said. “This is not just dipping our toe in the water. We’re here, and we’re going to be part of this community for a long time.”

Heaps said the time was right for expansion into the Springfield area because bank mergers and acquisitions in past years have left Springfield without a local bank headquartered there.

As he spoke to the crowd at the groundbreaking, Springfield Mayor Domenic Sarno picked up on this point. “Sometimes, the community touch is lost,” Sarno said.

“Florence Bank is accessible. A person will answer the telephone,” he added. “The city of Springfield is growing, and Florence Bank will continue to move it forward.”

Also in attendance at the event were: Joe and Wendy Bonavita, the former landowners; Kevin Kennedy, chief development officer of economic development for the city of Springfield; Mary Dionne, vice president of the Outer Belt Civic Association; Myles Callender of Revitalize Springfield; and representatives for the developers, Marois Construction Company of South Hadley, the architectural firm HAI Architecture, and for Bohler Engineering.

Florence Bank employees, board members and corporators were also present, along with State Rep. Angelo Puppolo and Springfield City Councilors Tim Allen and Mike Fenton.

Heaps said that like the West Springfield Banking Center, the Allen Street branch will have an open floor plan with a full-service teller pod and innovative technology for quick cash handling. The location will also feature a drive-up ATM with SMART technology for easy depositing and a comfortable waiting area inside with a coffee bar and free internet.

Florence Bank has nearly 3,800 customers living in Hampden County, including 700 business customers, and Heaps said the bank looks forward to deepening its impact in the region and working with neighboring businesses.

Florence Bank, chartered in 1873, is unique in that it’s a mutually-owned savings bank, meaning it does not need to pay dividends to stockholders. That mutuality, Heaps said, allows it to make decisions about what’s best for customers and the community.

Florence Bank is a mutually-owned savings bank chartered in 1873. Currently, the Bank serves the Pioneer Valley through 9 full-service branch locations in Florence, Northampton, Easthampton, Williamsburg, Amherst, Hadley, Belchertown and Granby as well as through 27 ATMs and a new full-service Banking Center in West Springfield. Florence Bank offers a wide range of financial services including investment management through FSB Financial Group (FSBFG) to consumers and businesses. Florence Bank is consistently voted best local bank by the readers of the Valley Advocate and the Daily Hampshire Gazette.

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Project is a city and state collaboration that will accentuate efforts to revitalize Pleasant Street

NORTHAMPTON—Valley Community Development will hold a groundbreaking ceremony Wednesday, Nov. 1 at 1 p.m. at The Lumber Yard Apartments at 256 Pleasant St., a roughly $19 million affordable housing project that is a collaboration of multiple funding and development partners.

Joanne Campbell, executive director of Valley Community Development, will lead the event, which will be attended by Jay Ash, the state’s secretary of Housing and Economic Development; Mayor David Narkewicz; and Wayne Feiden, the city’s director of planning and sustainability.

Also expected to attend are representatives from Way Finders, a financial partner and project co-sponsor that will manage the apartment complex once it has been built; and MassWorks, which is funding the relocation of an underground storm water conduit through a grant obtained by the city with the assistance of Valley Community Development.

In its 30^th year, Valley Community Development is excited to be taking the next step in this project, which Campbell said is a great example of collaboration between Way Finders, multiple city and state organizations, and many funding mechanisms—from loans to grant funds to state and federal tax credits.

Valley Community Development is a nonprofit with a mission to empower individuals with low and moderate incomes by developing affordable housing, encouraging homeownership and offering small business assistance to help individuals create sustainable employment.

Narkewicz said the 70,000-square-foot affordable housing project fits in with the city’s larger goal of revitalizing the Pleasant Street corridor and is sure to bring good synergy and projects down the road.

“The mark of a strong and successful downtown is one where people can live, work and shop, including residents from every rung of the economic ladder,” Narkewicz said, noting this project will create new housing and boost economic development. “Valley Community Development’s Lumber Yard project is a vital piece of the overall redevelopment of Pleasant Street, and I’m looking forward to watching this beautiful new mixed-use building take shape.”

Feiden said The Lumber Yard will advance efforts to increase foot and bicycle traffic and commercial activities, making Pleasant Street a healthier, vibrant and more active street.

“The Lumber Yard provides desperately needed affordable housing, a 24-7 presence on the street, commercial activity and a guarantee that all residents of all incomes will be able to live, work, play and shop on Pleasant Street,” he said.

Valley Community Development’s major partners in The Lumber Yard Apartments project include: The City of Northampton, which provided $500,000 in federal Community Development Block Grant funds and Community Preservation Act funds, as well as funding through MassWorks, a state program, that is covering the costs of the relocation of the storm water conduit that runs under the property; the state Department of Housing and Community Development, which provided the bulk of the financing; the state Community Economic Development Assistance Corporation, which provided pre-development and acquisition financing; TD Bank, which is providing tax credit equity and construction and permanent financing; Way Finders, a co-sponsor that will provide long-term compliance and property management services; and Smith College, which provided a $100,000 grant.

In recognition of its 30^th anniversary year, Valley Community Development has launched a $400,000 fundraising goal to help the nonprofit act on goals outlined in a five-year strategic plan. The nonprofit serves Northampton, Easthampton, Amherst and Hadley

For more information about Valley Community Development or its five-year plan, visit valleycdc.com.

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