One Exchange Place Gets Financing in Worcester

By Steve Adams | Banker & Tradesman Staff | Nov 11, 2025 | Reprints | Unlock Link | Print

Photo courtesy of Kelleher & Sadowsky

Worcester’s former police and fire headquarters and a district court building received $14.35 million in financing for a mixed-use conversion by a New Bedford developer.

Founded by Gerry and Colleen Kavanaugh, CMK Development Partners has experience with restoration projects in Weymouth and New Bedford and the recently completed Union Place in Natick, an age-restricted rental community being developed in a partnership with Behrend Construction.

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