CASE STUDY:

Cabotville Industrial Park

EBI Consulting was retained by a small regional lender in the Northeast to conduct a structural evaluation and construction loan monitoring for Cabotville, Industrial Park, a historic industrial mill, with goals to transform the building into luxury residential apartments in a multi-phased renovation.

Cabotville Industrial Park

The property was constructed between 1915 and 1920, with three interconnecting mill buildings that has been renovated throughout the building’s lifetime. Currently, Cabotville Industrial Park consists of a multi-tenant, office, retail and industrial facility on a lot totaling 16.49 acres.

EBI completed a Structural Observation Report to observe the general structure, condition of the substructure, superstructure, and facades at the property. The structural evaluation identified the extent of observed structural damage and provided suggested repair or maintenance items considered necessary for the property to continue in its current or rehabilitated operation, compared to properties of similar age and condition.

Based on observations, it was concluded that the building was built to code at the time of construction. Most of the structural components were in sound and in good to fair to poor condition overall. Recommendations were made to the client regarding areas for structural improvement.

Following the completion of the structural evaluation, EBI worked to assist the lender in its underwriting of a proposed construction loan for Cabotville Industrial Park. EBI worked to assess the viability of the proposed project; and to suggest additional documentation needed, clarifications required, or actions necessary to comprehend the extent, nature, and conditions of the proposed construction. The renovation consists of a multi-phased overhaul of the 5-story mill building to be converted to 280-unit apartments. The anticipated timeline for construction is 18 months.

Construction consulting services include the review of scope for architectural, structural, MEP, site and landscaping, and fire protection documentation. Construction consulting services and documentation review are currently on-going.

Services Provided



  • Structural Evaluation

  • Structural Observation Report

  • Construction Loan Monitoring

  • Construction documentation review

Project Team

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