The Phelan family is moving forward with extensive renovations at the landmark Four Stories building, which it purchased from the city after submitting the winning development proposal.

The Flat Iron-style brick structure, at the intersection of Washington and Broad streets, will house the Phelan law firm and other commercial offices.

Phelan siblings Michael, Vincent, Timothy and Katherine Phelan Brown bout the building last October for $200,000.

"We're going to use the top two floors for our law firm, and rent the first and second floors out," said Michael Phelan.

The lawyers purchased the building following a search for a new permanent home for their law firm on Nahant Street, which was the target of an arsonist last June. Since the
fire, the lawyers have set up shop at The Edison, a newly-renovated commercial building at the corner of Broad and Exchange streets.

"Our family has been in Lynn forever," said Phelan. "Rebuilding on Nahant Street wouldn't have had the same character. And we love the Four Stories. It has a lot of charm."

Phelan said the family initially thought that renovating the historic structure would be more const-effective that building anew. However, they have since found out differently, he said.

"We thought it would be more const-effective to restore Four-Stories rather than rebuild on the site of our old location. It's turning out not to be true, but I definitely want to take it on," he said.

Phelan said the family is in talks with Starbucks to perhaps bring one of the chain's upscale coffee shops to the building's first floor.

"They have said they are interested," said Phelan. "That's all so far."

Progress on the building was slowed by the extremely cold winter. The building has been gutted, the dumpsters come and gone. Phelan said the unusual shape of the building with its triangular footprint and sharp angles has made the renovations a challenge.

"We needed to hire a new architect, Peter Gearhart, and that slowed the process somewhat," he said. "We wanted a design that makes the building flow nicely."

The project has been financed through sale of the family's Nahant Street lot, insurance proceeds from the fire and the family's personal funds.

Work to date has included a new roof and the building's interior demolition phase is complete.

Contractors have hauled out more than 100 tons of debris from the now-empty building.

Development plans include extending the building's rear façade to accommodate two staircases and an elevator. All existing windows will be replaced and additional windows will be installed where yellow stucco covers the exterior walls at the street level.

"We just signed off on the architect's plans for the first floor," Phelan said. "The second through fourth are basically the same layout and won't be as difficult. The next step is getting permits. And I'm really looking forward to getting in."

Although behind schedule, the family hopes to have the project completed by the end of summer.