Haverhill officials picked Lupoli Cos. to redevelop the city’s Goecke Parking Garage property into a $160 million mixed-use complex including 370 market-rate apartments, retail shops, a new headquarters branch for Pentucket Bank and a restaurant pavilion. Image courtesy of Cube 3 Architects

Pentucket Bank has opened a new branch in a brand-new development aimed at helping revitalize downtown Haverhill.

The branch at 1 Merrimack St. occupies the ground floor of the newly completed 660-space parking garage at the corner of Main and Merrimack streets.

The Lupoli Companies is redeveloping what was once the site of a former municipal garage into a new garage, 395 apartments, restaurants and retail space, collectively called “District Square,” after winning a city RFP process. It’s the largest development site in downtown Haverhill in some time.

In addition to its location in the new development, Pentucket’s new branch offers multiple office spaces for more detailed conversations with customers.

“Downtown revitalization doesn’t happen through abstract market forces alone. It happens when local institutions decide to be participants rather than spectators; when they put their name on a building, take a risk alongside their neighbors, and send a signal that they believe in where they come from,” Pentucket Bank President and Chief Executive officer Stephen Jaskelevicus said in a statement. “That’s what this reopening represents. We believe in downtown Haverhill, we helped clear the way for this project to happen, and today we’re here.”

Pentucket Bank’s involvement in the downtown redevelopment project began with agreeing to sell Lupoli its corner property in 2023 to complete the District Square development site. Construction of the new branch began after the original building was demolished in 2024.

The bank is headquartered in Haverhill and is part of the mutual River Run Bancorp along with Newburyport Bank and Rollstone Bank & Trust.