September 26, 2022
The ROMAN CATHOLIC CHURCH just lately bought the previous Sacred Coronary heart Church at 415 Olo Avenue in Woonsocket to Belchikoo LLC, affiliated with Pawtucket-based Nexus Property Administration, for $510,000. Gregory Rice (left), common supervisor of Nexus, says his firm’s plans to show the church into 32 market-priced flats have acquired assist from Woonsocket Mayor Lisa Baldelli-Hunt (proper). / FREE MANAGEMENT NEXUS REAL ESTATE

WUNSOCKET – The previous Church of the Sacred Coronary heart at 415 Olo Avenue, was just lately bought for $510,000 as a neighborhood property administration firm advances plans to renovate the constructing and adjoining rectory into 32 models on the market worth.

Sacred Coronary heart Church of Woonsocket, a division of the Roman Catholic Diocese of Windfall, bought the property to Belchikoo LLC, which is affiliated with Pawtucket-based Nexus Property Administration, based on a duplicate of the disclaimer. This comes after the property was first listed on the market for $575,000 earlier this 12 months by actual property company RE/MAX Business.

Gregory Rice, common supervisor of Nexus Property Administration and vice chairman of franchise gross sales, stated his firm plans to construct flats on the prevailing 8,100-square-foot property. Rice stated the venture had already acquired metropolis council approval earlier this 12 months, and that town permitted a seven-year tax board permitting the condo constructing to be exempt from property taxes for the primary two years of operation, after which annual property taxes take impact. at a fee of 20% within the third 12 months, growing yearly till the total tax invoice is accrued by the eighth 12 months.

The 32-unit venture, overlaying 15,000 sq. toes within the present church constructing and connected parish construction, is at the moment awaiting ultimate planning approval from town. In line with Rice, the venture additionally must deviate from the RI Rehabilitation Code.

Rice stated groundbreaking ought to happen this 12 months and building will take about 9 months.

The sale of church property was accompanied by documentary restrictions prohibiting Belchikoo from utilizing the title “Sacred Coronary heart” in future property transactions, in addition to forbidding the corporate from utilizing the church constructing for functions opposite to the Catholic religion, specifically abortion. , worship for different religions, the sale of pornographic supplies, paranormal gatherings and playing.

Any violations of the restrictions on the case, which have been transferred to any heirs or successors and will solely be remedied by the Church, are topic to judicial enforcement, together with the instant elimination of the injunction, which may cease any violations in accordance with the settlement. The paperwork state that this is applicable to the present church constructing, however won’t apply to property if the constructing is demolished, and any use restricted by the doc have to be licensed with written permission from the Bishop of Windfall.

Warwick-based Bentley Builders is the overall contractor for the church’s renovation, and Windfall-based ZDS Structure & Inside Design is the architect for the venture, Rice stated.

The flats will construct on the church’s present 100-space automobile park situated throughout the road, Rice stated.

The brick manor, inbuilt 1920, had its final Mass 4 years in the past.

In line with Rice, the Sacred Coronary heart’s redevelopment plan has acquired assist from Mayor Lisa Baldelli-Hunt, in addition to different metropolis officers.

This venture is one among a number of renovations of former church buildings in Rhode Island which have taken place in current occasions, as ONE Neighborhood Builders, a non-profit group, remains to be in pre-development in an try to show the previous St. Patrick’s Church in Cumberland right into a 42-unit residential neighborhood. inexpensive housing for the aged known as St. Patrick’s place.

“We needed to do that as a result of, sadly, the variety of empty church buildings is growing and their use may be very restricted,” Rice stated. “Turning them into housing is a novel technique to restore these properties in addition to contribute to Rhode Island’s typically missing housing inventory. It truly is a win-win for the communities, for us and for the diocese too.”

Mark Larock is a PBN contributor.

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