Milton Village: Two Pence Market Opens in Old Bank to Spark Commercial Revival

Three local partners spent three years converting a dormant 1929 bank into a neighborhood market and grocery store in an effort to reverse decades of commercial stagnation in Milton Village. The project, known as Two Pence Market, opened in late July in the center of the village, a stretch of land that has long served as a commuter corridor rather than a destination for residents and visitors.

Developer JD Wild, Steel & Rye owner Dan Kerrigan, and culinary director Brendan Joy purchased the 4,500 square foot building, which formerly housed Bank of America and Blue Hill Bank & Trust. They removed fencing to create patios and a walk-up ice cream window. The former check-cashing stations now function as checkout counters, while the original bank vault was repurposed as a wine cellar. The team aimed to create a space that encourages foot traffic and lingering, a behavior Wild describes as missing from the area for years.

Milton Village has faced commercial challenges for a long time. Although the area possesses historical factory buildings, a bike trail, and a waterfront path, it has often been viewed as a transactional stop for errands like banking or hardware shopping. Cheryl Tougias, an architect and member of the Milton Planning Board, notes that the historic structures define the district's character. However, the town has struggled to connect these assets into a cohesive neighborhood experience. In 2020, Milton approved a mixed-use zoning overlay for the area, yet Tougias observes that little visible change occurred in the five years following that approval.

The neighborhood’s history is rooted in industry. By the early 19th century, mills and factories along the Neponset River produced goods including gunpowder, paper, and chocolate. The chocolate mill, dating to the 1760s, was the first of its kind in the country. Today, the brick-clad Baker Chocolate mill buildings still rise above the river. Despite this infrastructure, Milton remains technically dry, with its first fully licensed restaurants not opening until 2009. Residents often travel to Dorchester for dining and shopping, a pattern Wild identified after purchasing nearly 26,000 square feet of Baker Chocolate buildings at One Eliot Street in 2019.

Wild converted that property into Muscle & Flow, a fitness center, and his office space. The opening of Two Pence Market in late July marked a shift in local activity. During the first week of operation, families gathered on the patio, and customers purchased produce and lunch from the market. Ian Grigorio, a resident and administrator of a local Facebook group, points out that the area contains a beautiful wharf and walking path that many residents overlook. Colby Thomason, owner of Milton Village Hardware, which has occupied its spot since 1918, acknowledges that many residents are unaware of the commercial options within their own town.

Wild is pursuing additional projects to sustain momentum. He has secured a liquor license for a potential brewery and restaurant on the water behind his fitness center. He is also working with local groups to revitalize Wharf Park, the current site of the Milton Farmers Market. The team has secured funding from the town’s Community Preservation Act and is seeking private donations to build ADA-compliant paths, seating, and a performance space. Construction on the waterfront improvements is scheduled to begin this fall.

Other developers face similar hurdles. Michael Roberts, who owns the former Swift Hat Shop and an adjacent home, has struggled to develop the properties for decades. He has proposed various uses, including multifamily housing, but says community opposition has stalled his plans. This year, Milton officials are considering designating Milton Village as a historic district, a move that would add another layer of regulatory context to the ongoing redevelopment efforts in the neighborhood.