The Grant on Main Street sold to business incubator

The Grant on Main Street sold to business incubator

The Grant, at 250 Main St., has been sold.

PAWTUCKET – The Grant, considered a Main Street success story since Michael Lozano and Jason Hogue first took it over in June of 2006, has been sold.

In an online post last Thursday, June 28, Lozano called the sale earlier that day to Leslie Moore the “end of an era,” saying he’s thankful for the ride.

“It’s been a good run. We had some good times, lost some hair, and certainly learned some things,” he said. “But most of all it was fun to bring some life to a grand old building and downtown that could use it.

“Here’s to The Bucket and many more years of cool things happening at The Grant (without us!),” he added.

The purchase price was $750,000. Lozano and Hogue purchased it for $425,000. The 1934 building, covering nearly 18,000 square feet, is assessed at $363,000 in the city’s property tax database.

Moore, who owns a number of other properties in Pawtucket and Central Falls, told The Breeze that The Grant, at 250 Main St., is “just a special building” and “has so much opportunity.”

Hogue said there were many sleepless nights as he and Lozano worked on their project, which he said was deeply personal to him given the fact that he lived and worked in the building for four years.

Philosophically, Hogue said he and Lozano liked that Moore has the same concept of allowing businesses to grow together. Some “theoretical” buyer might have come along with a higher offer, he said, but likely would have had to change the concept to make the project work financially.

Hogue said the sale was due to a “real mix of things,” particularly that he and Lozano are at a different life stage than they were back when they were regularly running large events at the building, each now raising two children and having families. Lozano now lives outside Boston and Hogue lives in Providence.

“After I lived there, it felt never as good,” said Hogue. “It was someone else’s heyday after I moved on and started a family.”

He added, “It was a lot to continue to maintain and put into.”

The former owners continued to make upgrades right to the end, said Hogue, including replacing the roof and half of the skylights. Moore will also have access to a grant for facade improvements, he said.

Through Moore’s company, Core Collaboratives, she said she supports local entrepreneurs and helps them take steps toward making their ventures and growth a reality, said Moore. She also owns two other Pawtucket buildings with similar goals of being incubators for start-ups, including one on Summer Street and another near The Grant, on Main Street.

Moore said she wasn’t banking on the potential addition of a new baseball stadium up the street when she decided to make the purchase, but is simply excited about the area and wants to see it flourish.

Hogue and Lozano did a great deal of work on the building, and have developed a solid “community of tenants,” said Moore. A change of ownership brings with it a good opportunity for “another round of work,” she said, and with some tenant transition, there’s also a chance to welcome some new companies.

Any existing tenants, including Flying Shuttles Studio, a couple of recording studios, artist spaces, a printing press and an office for a sexual health center, are being welcomed to stay, she said, but some newly open spaces create opportunity for newcomers.

She said she plans to meet with tenants from all of her buildings to discuss with them their hopes and dreams for The Grant and exactly what it should be.

Moore’s plans in many ways mirror what Hogue and Lozano did over the years, providing 17 spaces for designers and creative types to work together, share ideas and resources, and sell their goods to the public.

Visit www.corecollaboratives.com for more on Moore and her company, which supports the growth and development of city centers by providing business development consultation, collaborative spaces and community building ventures to support local entrepreneurs and patrons of the area.

Leslie Moore, who owns a number of properties in Pawtucket and Central Falls, has purchased The Grant.