Friday, March 8, 2019

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Equilibrium Brewery buys former Middletown bank building

MIDDLETOWN – Equilibrium Brewery, with its headquarters behind City Hall at 22 Henry Street in Middletown, has purchased the former TD Bank building at the corner of East Main and South streets.

City Economic Development Director Maria Bruni said it will be a plus for the business district.

“That is going to be their second location and we excited to see their plans come to fruition and a nice reuse of the building in our downtown,” Bruni said.

Equilibrium plans to use the first floor and basement for brewery operations and build an enclosed pavilion for bottle releases and for a tasting room. Other plans may include a restaurant on the upper floor. In all, the company plans to spend over $2 million into the project.

Equilibrium bought the building from the city for $650,000 with $250,000 of that secured by a note and mortgage based on development goals, $100,000 at closing (last Friday, March 1) and $100,000 in four payments annually on the anniversary of the closing date.

 


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