PORTLAND — It took four years and $22 million to restore and rebuild the Boyd Block so it could stand for another 150 years in the heart of the city’s Old Port district.

It was a passion project for Jacob Soley, director of development for East Brown Cow, a family real estate development and management company that owns 31 properties in the Old Port, many with historic designations.

A landmark location at 178 Middle St., the Boyd Block housed the downtown’s first Starbucks from 1998 to 2022. It’s also one of 10 properties that East Brown Cow owns in the city block bounded by Middle, Exchange, Fore and Union streets. The company won planning board approval in December to build a 30-story, mixed-use tower at 45 Union St.

So East Brown Cow has a vested interest in what happens in the district.

“The Old Port as a neighborhood, as a destination, is so compelling,” Soley said. “You can’t recreate that. It’s a unique area and the Boyd Block is a cornerstone of a larger vision for us.”

Maine Preservation recognized the Boyd Block rebuild recently with a 2026 Honor Award for excellence in transformative rehabilitation and preservation of a historic building.

It’s the second time the nonprofit has honored East Brown Cow’s efforts — the company’s revitalization of the Abraham Robinson Block at 115 Middle St. won recognition in 2023.

“The rehabilitated Boyd Block serves as a visual and civic anchor — an illuminated nexus within the Old Port — that underscores the value of thoughtful historic preservation as a tool for urban vitality,” Brad Miller, Maine Preservation’s program director, said in a statement.

Built in 1867, the Boyd Block is a five-story Italianate-style brick building at Middle and Exchange streets, across from Tommy’s and Post Office parks.

It was designed by Portland architect George M. Harding during the city’s rapid reconstruction after the Great Fire of 1866 and it’s one of five Harding buildings in the Old Port.

Before East Brown Cow’s rebuild, the Boyd Block typically housed banking and retail on the first floor and small professional offices above. It underwent major alterations over time, including the addition of a fifth floor in the 1920s. Most recently the storefronts housed Starbucks, Bangor Savings Bank and Stonewall Kitchen.

In 2021, East Brown Cow bought the building for $4.4 million and began shoring up the structure, reversing piecemeal renovations and replacing 19th century details.

As a result, the project was funded in part with federal and state historic rehabilitation tax credits that reimbursed the company for 45% of building-related costs, Soley said.

“The building was quite literally taken apart and reconstructed to meticulous detail,” said Miller, of Maine Preservation. “At one point, you could stand in the basement and see the roof rafters.”

Working with a dozen Maine firms, including Simons Architects, Consigli Construction and Hanson Historic Consulting, the project balanced preservation and restoration goals with improvements necessary for modern uses.

Brick was repointed, brownstone details were restored and custom windows were built to fill original arched openings.

Decades-old false walls were removed to reveal original window casings and baseboards that were carefully removed, cataloged, restored and reinstalled.

When the project was finished in 2025, Bangor Savings returned to its storefront and Rough & Tumble, a Maine-based leather goods designer, moved in next door.

The upper floors feature 16 one- and two-bedroom boutique hotel apartments that are available for short- and long-term stays through The Docent’s Collection.