An eyesore at the intersection of Chapel Street and Main Street was demolished on Saturday, September 24, paving the way for a potential affordable senior housing project.

"We're ready to go," developer Ryan Correia said as an excavator ripped through the remainder of the building adjacent to 361 Main Street on Saturday afternoon.

Correia and his company, Potential Properties, renovated and restored 361 Main Street - the former Majestic Mattress Factory - as well. It now houses retail space on the bottom floor and six affordable housing units above.

Those apartments "have been rented since the day we finished construction," he said. "[People] always say, the first [project] is the toughest or the hardest."

With that success, Correia is looking to complete a similar project with the most recent tear-down, though roughly four times the size of the Mattress Factory project.

If all of the permitting is approved and grant money can be secured, Correia said he plans to demolish Joe's Gas, located next-door, and build approximately 48 units of one- and two-bedroom apartments to be rented at below-market, affordable rates for seniors.

"So far the town's been really cooperative," said Correia. "If they're ready, we're ready to buy anything on the street and get it up and running again."

The exact number of units in the project would depend on how large a parking lot is needed, which is still being determined, Correia said.

Much like the Mattress Factory project, the first floor of the building would feature mixed-use retail space. Correia imagines that various conveniences for seniors - such as a laundromat or a small store selling groceries - would do well in the building. But he said he plans to ask the town and seniors what they would like to see.

"Whatever [the town] feels is a need for seniors, we want to put it on the first floor," he said.

Crews are cleaning up the debris and plan to backfill this weekend.

Correia is continuing to explore various avenues of funding, including Community and Economic Development Authority and U.S. Department of Housing and Urban Development (HUD) grants. He said he hopes to present the project to the Board of Selectmen by the first of the year and, if all goes well, start building in spring of 2012.

"Once we get the funding, I want to fast track this," Correia said. "Hopefully the plan will sustain and this will be great."

View the video below to see the building come down!