New Bedford tries to save old Berkshire Hathaway building - ABC6 - Providence, RI and New Bedford, MA News, Weather

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New Bedford tries to save old Berkshire Hathaway building

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by ABC6 News Chief Political Reporter Mark Curtis

mcurtis@abc6.com

It may not look like much now, but this building on Cove Street in New Bedford, is actually of historic significance. It was the office headquarters for the surrounding Berkshire–Hathaway textiles, which was purchased years ago by billionaire investor Warren Buffett.

"This is where the Berkshire–Hathaway empire was launched. Berkshire–Hathaway is arguably the most successful investment company in U.S. history. And Warren Buffet is arguably the most successful investor in U.S. history," said New Bedford Mayor Jon Mitchell.

The building's current owner has not found a buyer and may decide to have it demolished. The building was featured in "The Wall Street Journal" this week, as the city tries to find a buyer.

ABC6 Chief Political Reporter said, "There are estimates it could take upwards of one million dollars to renovate this building and get it ready for use."

The city hopes the area could be developed for office space, loft apartments or retail shops. Nearby businesses like the idea, believing that would bring them more customers.

"It would be awesome. Be really awesome. Bring in a lot of good, hopefully," said Becky Demers of "South Side Annie's" bar in New Bedford.

The mayor says it would have long term benefits. "What we're trying to do is save a little bit of history here in New Bedford. New Bedford has a very rich history," said Mayor Mitchell.

The city is hoping to find a buyer, before the owner razes the building.

 

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