The former Bank of Boston building at 2 Eliot St. in Milton Village has reopened as Two Pence Market, a combined cafe, grocer and community gathering spot, marking a new chapter for a landmark structure that first opened in 1929.
Historic building repurposed for community use
The property, which originally housed the Blue Hill Bank and Trust Company and later operated as a Bank of America branch until 2021, was acquired at auction in 2023 by local developer JD Wild of The ELEVATED Companies. Wild worked with the market’s founders — Dan Kerrigan of Steel & Ryes and culinary director Brendan Joy — to convert the stone-and-brick bank into a neighbourhood destination.
Two Pence Market will offer a mix of prepared foods and retail items, including bagels, coffee, smoothies, prepared foods, grocery items, florals, ice cream, and wine, spirits and beer. The team also added outdoor dining, a terrace and landscape gardens aimed at activating the streetscape as people enter the village from Boston.
“To bring outdoor dining, a terrace, landscape gardens, and just show life as you enter into Milton, and have a place for people to gather, and just enjoy the village was really, really important for us.”
The owners emphasised preserving the building’s historic features during the conversion. Design choices include refurbished original chandeliers and lighting, use of old bank filing carts as shelving and produce displays, framed historical paperwork on the walls, retention of the original fireplace and repurposing the old vault as a wine cellar and shop.
Partnership and restoration
According to the team, Wild spent about a year restoring the building and preparing it for the market’s fit-out. The project is a partnership between the developer and the Two Pence operators; their work leaned into the site’s banking history — even the market name references the building’s past.
- Address: 2 Eliot St., Milton Village
- Offerings: cafe items, prepared foods, grocery, florals, ice cream, beer, wine and spirits
- Notable features: outdoor terrace, restored historical elements, vault repurposed as a wine cellar
The conversion of a prominent corner building into a mixed-use neighbourhood market is likely to influence pedestrian activity and the local retail mix along the village’s main arteries. For residents and visitors, Two Pence Market provides a new option for casual dining, quick groceries and a community gathering place anchored in an identifiable, historic structure.
| Former use | Current use |
|---|---|
| Blue Hill Bank & Trust Company / Bank of America branch | Two Pence Market – cafe, grocer, community space |
The market is the latest in a series of efforts to restore and reactivate buildings in Milton Village, reflecting ongoing interest from local developers and restaurateurs in preserving architectural character while introducing contemporary retail and dining options.
