The Wellesley Historical Society is now the envy of many of us: It has raised $400K in a recent fundraising campaign and now can pay off the mortgage for 323 Washington St., the future home of the Society.

The Society acquired the 5,000 sq. ft. Stanwood House on the last day of 2012 for $1M, with the intention of moving its collections and offices to the new location. Its current base at 229 Washington St., the Dadmun-McNamara House, can’t contain its collections, and is too small for the sorts of public activities the Society would like to host.

While the Society is thrilled about paying off its mortgage for the 1916 house, more fundraising is ahead to ensure the new location can safely maintain its collections and meet various regulations. The Society has already invested in significant renovations, including accessible bathrooms and ramps. The property, as of Town Meeting this past fall, is now deemed a single building historic district.