The Treadwell Mansion at 93 Pleasant St. isn’t just a boutique hotel; it is a time capsule of rich, restored history and modern, luxurious charm. When Mark McNabb of McNabb Properties purchased the treasured landmark in January 2022, he wasn’t simply taking on a renovation. He was investing in history, architecture and community.
“This building just spoke to me,” McNabb says. “If walls could talk.”
At the time, the inside had been neglected, and he wanted to change that. The outside structure was perfectly intact, but it needed stewardship.
Intuition and history
McNabb felt an immediate connection the first time he drove by. When the property later came up for sale, he trusted that instinct.
The mansion, a 19th-century landmark once known as the Hotel Merrick, has long been woven into Portsmouth’s story. A former carriage house on the site was eventually demolished to make room for a bowling alley. It was a loss that helped spark local preservation efforts and contributed to the founding of Strawbery Banke Museum and a larger historic renewal.
For McNabb, saving Treadwell wasn’t a financial calculation.
“I’ve always felt money is the byproduct of doing something great but never the means to the end,” he says. “Passion for renovating historic structures transcends obstacles.”
Inside the mansion
Stepping into the grand brick mansion, one is transported. Teal and marigold tones in the lobby, restored fireplaces and balconies full of sunshine bring warmth to the 38-room hotel. The mansion holds a feel of private tranquility and grace while also being in the heart of a historic, bustling downtown Portsmouth. Suites boast full kitchens and spacious sleeping and living areas.
Stories from the past
For Business Operations Manager Liam Annis, the connection is personal. As a child, he attended antique auctions with his family when the building was owned by Ron Bourgeault. Bourgeault, a longtime Portsmouth property owner and developer, continued to support the mansion during restoration efforts alongside McNabb.
Annis notes that during the demolition of the third floor, now the Presidential Suite, workers discovered a playing card tucked inside an original window frame. Research revealed it predated 1885. Small finds like this only deepen the mystery and uniqueness of the property’s past.
While restoring one of the last remaining stone walls on the property, the team learned the space may once have served as a town pound, holding wandering livestock. Small details like this during the restoration process added another layer to the building’s evolving story.
Preservation and progress
Today, the mansion enters a new chapter where the history is blended with updated technology and modern hospitality. Although the original architectural details remain, the interior has been fully reimagined with the level of care that travelers expect from newly updated hotels.
Annis is excited about this next chapter and sees the evolution as a bigger story. “Treadwell stands at the crossroads of Portsmouth’s past and future, A 19th century landmark reborn as a fully autonomous apartelle. We’ve woven smart hospitality technology into historic architecture, proving that preservation and progress can thrive together. Honoring the city’s story while redefining how we all experience it.”
Risk investing
Historic restoration isn’t without risk. When asked how investing in a historic home is different from other typical development projects, McNabb shares one word: “Connection.”
McNabb emphasized that it can take 5 to 10 years to break even and cover operating expenses for a project like this. Regardless of profit, McNabb felt that the hotel needed to return to its ultimate form and become a celebration of architectural diversity.
“Investment in real property has to align with purpose,” McNabb says. “If it’s a long-term hold, I’ll spend 30 to 50 percent more to do it right. Not every developer is going to make money on every project they take on.”
A hotel for the community
The vision is for the mansion to strengthen Portsmouth itself. Future plans include intimate wedding weekends, celebratory gatherings and partnerships with local organizations.
Annis explains, “We want to support local businesses, welcome travelers and deepen connections between visitors and the city.”
For McNabb and Annis, success won’t be measured only in occupancy but in how people connect to the building.
Living legacy
When asked why the investment matters so much, McNabb doesn’t hesitate.
“When decisions are passion-driven, everything has a voice,” he says. “They create places that speak back to the community.”
McNabb is candid that his work isn’t about legacy.
“If future generations see this restoration as a natural continuation of Portsmouth’s character, that’s enough,” he says.
The Treadwell Mansion opened on Feb. 10, 2026 with a warm reception from visitors. Thanks to the restoration, Portsmouth and beyond will be enriched by an investment that speaks to both the past and the future.
“This building just spoke to me,” McNabb says. “If walls could talk.”