SPRINGFIELD – City officials announced on July 16 a contractor for the renovation of 31 Elm Street – also known as the Court Square Building – has been named and construction will begin.

Peter Picknelly of Opal Development said in two year’s time there will be 74 apartments at the historic building as well as retail space including a restaurant.

Picknelly is finishing the work of his late father, who had started talking about the redevelopment of the property more than two decades ago.

“It’s a great day for Springfield… this building will be accomplished,” he said.

Fontaine Brothers will be the general contractor and local union labor will be employed.

Funding for the project has come from several sources, private and public and Congressman Richard Neal, who was at the press conference, received thanks for the Historic Tax Credits that are being used.

Neal said the project is an example of the Historic Tax Credit program.

Because of the funding provided by MGM Springfield, the finished complex will satisfy the Host Community Agreement clause requiring MGM to build market rate apartments downtown.

MGM Springfield President Chris Kelly said, “This wonderful building is a symbol of our past, our present and our future.”

Colton Andrews, president of the Pioneer Valley Building Trades Council, said working on the building would be a “great opportunity … to participate on a historic project that will put Springfield residents back to work.”

According to information supplied by the Springfield Redevelopment Authority, the project has been a long time in the making. The building was built in 1892 with 3-7 Elm Street as one of the oldest mercantile locations in the city.

The complex was known for the Court Square Theater, which according to the website Cinema Treasures, was opened in 1892 and closed and demolished in 1956. The theater’s lobby was where the entrance is to the complex’s parking lot.

Closed to tenants in the 1980s, there were discussions about the re-use of the building in 2005 when Paul Picknelly explored the possibility of using the building as a boutique hotel.

In 2007, the Urban Land Institute, in its study of downtown Springfield, noted the best way to grow and stabilize downtown was to create a neighborhood there and additional housing options were vital. The Court Square area was one of the areas that needed to be developed.

The report noted, “This entire square should be prioritized for prevention of any further blight. Already beautiful, this core area of Downtown is a significant symbol of Downtown and must be well maintained. It is startling to see a key building on this lovely square empty and boarded. Filling this building (13-31 Elm Street) should be a priority.”

In 2011 the SRA named Opal Development – of which Peter Picknelly is an owner – as the preferred developer. Picknelly partnered with Winn Development for the project. “There is no better location in Springfield,” Peter Picknelly said.