Springfield Development Group Buys St. Francis Property
The former St. Francis of Assisi Church property has been sold to a real estate developer for more than $1.3 million.
iBerksires.com reports the now empty church parcel at 55 Eagle St. and the former rectory at 12 Union and a few smaller connected parcels were purchased on Thursday by Colvest Group, operating as Colvest/North Adams LLC. Based in Springfield, the real estate development and management company owns commercial properties throughout Western Massachusetts.
Mayor Thomas Bernard said he had heard about interest in the property but was not aware of the purchaser or plans for it.
Colvest has specialized in developing mixed retail shopping centers and office spaces. A call to the company had not been returned by late afternoon.
The property had been listed with Colebrook Realty for $1.5 million.
The Roman Catholic Diocese of Springfield has been trying to free itself of the problematic property since shortly after its closing nearly a decade ago. At the time, St. Francis was estimated to need at least $1 million in structural repairs and updates.