A novel business plan is poised to transform use of one of Amherst’s landmark buildings – yet another signal of changing times and technologies.
Instead of housing money in its vaults, the former First National Bank building at 11 Amity St., last occupied by TD Bank, will serve as a shared workspace for self-employed entrepreneurs of this era’s “gig” economy. The AmherstWorks project joins similar shared offices in Northampton (Click Workspace) and Easthampton (Easthampton Co. Lab).
Jerry Guidera, general manager for AmherstWorks, says he hopes to sell 200 memberships to the space, making it the largest of the three in the region. Potential customers could be drawn from the ranks of the laptoppers who fill downtown coffee shops, provided they’re willing to pay a monthly fee ranging from $225 for part-time use to $425 for desk space any time and a locker to boot. As Guidera quipped, AmherstWorks aims to be “basically a coffee shop without the hipsters.”
The venture would be the first partnership between Barry Roberts, the developer who owns the 1920s building, and the founders of Archipelago Investments, whose Kendrick Place and Boltwood Place projects have been reshaping Amherst center. There is a natural synergy there, because their target market tends to be more affluent and tech-driven.
While places like this offer a respite from working from home or hanging out at a coffee shop, adherents say they play a meaningful role in fostering a business climate in which creative people can share ideas, team up on projects and seek to scale up their dreams.
It was unlikely 11 Amity St. would ever house a bank again, but a lot of people could soon be giving out this business address. AmherstWorks is a welcome alternative because it would bring people back to this historic building, making its own deposit in the ledger.