A cafe, grocer, and community gathering space now fills the long-vacant bank building at 2 Eliot St. in Milton Village, where the doors had been shut since Bank of America closed its branch in 2021.

Two Pence Market, which opened in late July, is a collaboration between Steel & Rye owner Dan Kerrigan, culinary director Brendan Joy, and developer JD Wild of The ELEVATED Companies. Wild, who also owns Muscle & Flow across the street, purchased the building at auction in 2023 and spent roughly a year restoring it before the Two Pence team moved in.

"This is the gateway into Milton from Boston," Kerrigan told the Milton Times. "As you cross the Neponset River, you're entering into Milton, and the first thing that the town was showing was this building that had just been forgotten and was left for ruin."

The building originally opened as the Blue Hill Bank and Trust Company in 1929, later became a Bank of Boston branch, and most recently operated as Bank of America until 2021. It sat vacant and deteriorating at the Neponset River crossing until Wild's auction purchase.

The renovation leans hard into that banking past. The original vault now houses a wine cellar and retail shop. Old bank filing carts serve as shelving and produce displays. Original chandeliers have been refurbished, check-cashing tables converted into registers, and vintage bank paperwork framed as wall decor. The fireplace is original.

New additions include an outdoor pergola with seating, a second patio, an unblocked front entryway, and a walk-up ice cream window serving Toscanini's with 16 rotating flavors, sorbets, and hand-spun milkshakes.

The menu runs from morning coffee and house-made bagels to prepared meals, seasonal bowls, smoothies, and grocery items. Farm partnerships bring seasonal greens from Allandale Farm in Brookline and fruit from Ward's Berry Farm in Sharon. Wine, spirits, and beer round out the shelves. Executive Chef Alison Hearn oversees the culinary program alongside Joy.

Steel & Rye has operated in Milton since 2012. In a press statement issued July 28, Kerrigan said the market grew from that nearly 15-year presence and a desire to create a space connected to the community the team has been part of. The Steel & Rye portfolio also includes Prairie Fire in Brookline.

Two Pence Market is open Monday through Thursday from 6:30 a.m. to 9 p.m., Friday from 6:30 a.m. to 10 p.m., Saturday from 8 a.m. to 10 p.m., and Sunday from 8 a.m. to 9 p.m.