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STONE BUILDING <br />Description <br />The Stone Building is a historic structure located on Massachusetts Avenue. The <br />building has been used for different purposes over the years, including a lecture hall, <br />place for religious services, a residence, private schools, meetings and most recently, <br />an extension of the Town's Cary Memorial Library. The building is now vacant. There <br />is a deed restriction on the property that limits the use of the property to educational <br />purposes. The property has the following characteristics: <br />LOCATION: 735 Massachusetts Avenue <br />YEAR OPENED: 1835 <br />LOT SIZE: 0.38 acres <br />BUILDING SIZE: 3,500 GSF <br />OWNER: Town of Lexington <br />ZONING: RT (Two - Family Dwelling <br />Residential District) <br />CURRENT USE: Vacant <br />BUILDING ASSESSED VALUE (FY13): <br />$564,000 <br />LAND ASSESSED VALUE (FY13): $477,000 <br />TOTAL ASSESSED VALUE (FY13): $1.04 <br />million <br />Previous Analyses <br />In 2009, Menders, Torrey & Spencer, Inc. completed a study of the Stone Building <br />and published the Historic Structure Report and Recommendations for Rehabilitation and <br />Reuse. It included an overview of the building's historic uses and architecture, a paint <br />analysis, stabilization needs assessment, a restoration plan and a maintenance plan. It <br />found that the building's exterior was in fair condition, though some elements were in <br />poor condition. The interior was in worn to fair condition. <br />According to the study, required building work included repointing of the foundation <br />and three chimneys, repainting of siding and trim, replacing of damaged clapboards, <br />rehabilitation of the interior and replacing of the heating and cooling systems. The <br />windows also needed to be made operational. The report provided a breakdown of <br />projected costs, as follows: <br />• Immediate repairs: $15,000 <br />• Long -term preservation that includes restoring the building envelope: $205,000 <br />• Interior rehabilitation and construction of an addition: $1,625,000 <br />STONE BUILDING <br />735 MASSACHUSETTS AVE. <br />TOWNWIDE FACILITIES MASTER PLANNING 25 <br />