North Adams Looks to Sell Off Six Properties
.JPG)
NORTH ADAMS, Mass. — The mayor will ask the City Council on Tuesday for authorization to sell off six city-owned properties appraised at nearly $5 million.
"I think we would all agree that the City should not be a 'property owner' in this sense and the proceeds realized from these sales could be used to bolster reserves and/or fund the many capital projects in front of us," Mayor Richard Alcombright wrote in his communication to the councilors.
Alcombright has frequently spoken of the need for the city to divest itself of underutilized and unneeded properties. But the global economic collapse was a setback for real estate, and the Berkshires suffered for some years before seeing sales and values begin to move up.
Two recent developments regarding city property may have been the catalyst to push some of these parcels onto the market. The recent $29 million renovation of Colegrove Park Elementary School has left Sullivan School on Kemp Park vacant. And the purchase of a former anodizing plant on Hodges Cross Road will consolidate public service departments currently spread around the city.
The properties the mayor wants to sell are the City Yard complex on Ashland Street; the sand and facility on Ashland Street; Sullivan School; Notre Dame Church and its neighboring school; and the Windsor Mill on Union Street.
The appraisals were done by Stevens Appraisal Associates of Shelburne Falls and the valuations were estimates based on "as is" market value for last spring.
• The City Yard has been valued at $475,000 but may be the most valuable in terms of location. The more than century-old complex is two sites — 227 and 245 Ashland — and includes four buildings of varying condition. The location, however, is in a developing area of the city that's seen growth over the past few years, including renovations of residential and commercial buildings, new sidewalks, and the construction of a new $3 million facilities building for Massachusetts College of Liberal Arts. The site is zoned for industrial.
• Farther south on Ashland is the Department of Public Works' salt and sand shed, which is also in an industrial zone. The equipment and materials stored at the property will be moved to the new public services center on Hodges Cross Road. The 2.55 acres could be put to more profitable use if the "improvements," the salt shed, was demolished, according to the appraisers. The property is valued at $125,000.
• Sullivan School, built in the mid-1960s, is estimated at $1.1 million in value. The four-story masonry building is about 51,000 square feet and sits on 12.5 acres in a residential zone. In this case, there were sales comparisons that could be used to determine an estimated value. Although city-owned, the property is assessed at $1.86 million, with about $500,000 of that in land.
• Also valued at $1.1 million is the Windsor Mill at 121 Union St. Founded as the Windsor Print Works in 1829, the company went out of business in 1956. It was privately owned until taken over by the former Economic Development Corp. in 1973, and then the city in the 1980s. Parts of the building are being rented out to a variety of artists and businesses. It is also the location of the school district's alternative education E3 Academy and the tourist booth.
The mill contains 157,807 square feet on 4.85 acres. The appraisers used sales comparisons and income capitalization (since the building generates income) to arrive at an estimate. A 20,000 square foot structure in the rear being used for storage of city vehicles and equipment, had a separate value of $155,000. It is expected that those vehicles will be removed to the new public services center.
The property is in an industrial zone and is assessed by the city at $1,152,100, with $295,800 of that being land.
• Last but not least, the Notre Dame complex was given an estimated value of $605,000 total. The city purchased the church, school and rectory on East Main Street from the Roman Catholic Diocese of Springfield for $500,000 in 2007, with the understanding the school would be resold to a residential developer. That deal fell through because of the recession but the rectory was purchased by the MCLA Foundation for $220,000 for its alumni offices.
The 1889 church at 214 East Main was appraised at $440,000, based on sales comparisons. It contains a total of 15,774 square feet over two floors, including a kitchen, cafeteria and stage on the ground floor. The three-story 1897 school at 222 East Main, which was used by the city in the 1960s as East School Annex, was appraised at $165,000. The masonry structure has 19,974 square feet.
The city last year applied for emergency funds to fix mortar issues on the church's exterior that were caused by water damage. The worst section, on the rear right side, has been repaired and spots around the exterior fixed.
"It certainly behooves the city to get all of these properties into the hands of the private sector with hopes of further investment and development," the mayor wrote. "This will promote growth that may bring jobs, which will certainly be good for our tax base and economy overall."
Also on Tuesday's agenda is the mayor's annual "state of the city" address and approvals to submit a statement of interest to the Massachusetts School Building Authority and for a City Council resolution declaring North Adams a "safe and inclusive community."
North Adams Proposal to Sell Property by iBerkshires.com on Scribd
Tags: land sales, municipal buildings, municipal property,
