PITTSFIELD, Mass. — CT Equities is planning an $8 million redevelopment of the former St. Joseph's, which last operated as a high school nearly a decade ago. 

On Tuesday, the City Council saw a proposed tax increment exemption to support the project. It was referred to the Community and Economic Development Committee. 

In 2017, the 120-year-old St. Joseph Central High School ceased operations. After the COVID-19 pandemic hit, it sheltered people without homes before The Pearl, a 40-bed downtown shelter, was finished a few years ago. 

The TIE would freeze the current property value base, starting at 100 percent forgiveness in the first year, decreasing by 10 percent annually over the agreement's 10-year period. The current assessed value is $1,073,500; the assessed value after redevelopment is estimated at $3,185,200. 

According to council materials, one-bedroom units will cost $1,850 per month, and two-bedroom units between $1,382 and $1,950, depending on size. There will be a total of 21 one- and two-bedroom units. 

In 2012, Pittsfield's City Council approved the first high-density zone under Massachusetts' Housing Development Incentive Program. It supports market-rate housing production in gateway cities through local tax increment exemptions and eligibility for up to $2.5 million in state tax credits.

Pittsfield has since expanded that HDIP zone to include the Tyler Street Business District and adjacent areas, creating 224 new housing units across 11 projects from largely commercial properties.  

Former churches and schoolhouses are a popular reuse for apartments.