Developer plans restaurant, 44 apartments in historic Downtown Worcester building

By: Eric Casey

November 6, 2025

One Exchange Place in Worcester: PHOTO TIMOTHY DOYLE

Formerly known as the Waldo Street Police Station, the site is listed on the National Register of Historic Places.

CMK was founded in 2019 by Gerry Kavanaugh. Before entering the development space, Kavanaugh was the chief of staff and chief economic advisor for the late Sen. Ted Kennedy and served as the director of policy for the Democratic National Committee. He is the former senior vice chancellor at UMass Dartmouth.

CMK's prior work includes the development of Union Place, a 40-unit, age-restricted apartment complex located at 26-32 Union St. in Natick.

Sullivan & McLaughlin Cos. purchased the site for $2.5 million in 2018, according to City of Worcester property records. The site received a 2025 tax assessment value of $3.05 million.

Formerly known as the Waldo Street Police Station, the site is listed on the National Register of Historic Places. One Exchange Place opened in 1918 as a police station and a district courthouse, according to the Worcester Telegram & Gazette. In the late 1980s, the building was the site of the offices for Business Worcester, the precursor to Worcester Business Journal.

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