WORCESTER — The corner of Southbridge Street and Hope Avenue is getting a new look, with the demolition of a century-old industrial building. Demolition crews last week began razing the brick building, built in 1907 by William H. Leland and Albert J. Gifford, the founders of Leland-Gifford Machine Co. 

The building has been empty in recent years. It was bought by WPB Holdings LLC in October through a foreclosure sale. What they plan to do with the property will  become clear after the demolition is completed. Already half the lot has been cleared, but a large three-story section of the factory remains.

John Marshall of JM Partners of Virginia purchased the property through WPB Holdings LLC. He said the company is looking into possibilities for reuse.

"We determined it simply was not feasible to work with the existing building," he said Tuesday.

The former factory, at 1023-1025 Southbridge St., would have cost too much to repair and bring up to code, the owners of building told the Historical Commission last year. The owners successfully sought the commission's OK to raze the building before the usual one-year waiting period.

Mr. Marshall said he has been contacted by several interested parties since the demolition started.

"Folks can see what will be a great property, available for any number of uses," he said. "Once we have the highest-risk parts of the demolition behind us, I intend to switch my focus to decide how best to use the land. We will likely have something a bit more solid by early April."