Papa Ginos’ former Medford Square location, now vacant, and a rendering of Century Bank’s proposed new branch.

- Allison Goldsberry

Century Bank announced today it will sink $500,000 into transforming a former pizza shop into its newest branch in the heart of Medford Square.

The new branch, right across the street from where bank Chairman Marshall Sloane’s father once owned a furniture store, will be outfitted with energy efficient glass and will offer free WiFi accessibility from the park in front of the building. 

The bank is vacating its 55 High Street location, which is now owned by one of the bank’s board members, Joe Senna.  Senna said he is looking for the “right kind of tenant that will satisfy the community” to fill the spot.

Sloane said the bank is also looking for tenants in the new branch’s building. 

Mayor Michael McGlynn hinted some of the new tenants could be restaurant or retail establishments, a move that could appease residents that preferred a coffee shop or eatery to a bank in that location.

Sloane said the bank is committed to the revitalization of Medford Square.  The bank is the city’s official private partner to help Medford secure a $1 million state grant to help build a new parking garage on Governors Avenue.

“We’re excited and pleased to participate in the revitalization of Medford Square.  With our headquarters expansion in Medford completed just two and a half years ago, we’re proud to continue building on our commitment to the community,” said Sloane.

Hear Mayor McGlynn and the Sloanes talk about the new branch, courtesy of video from MHS-TV 15: