Economy

Fall River’s Gateway Revival: Lone Developer Proposes $22 Million Apartment Project for Blighted Silvia School Site

Published

on

FALL RIVER ─ Only one developer has stepped forward with a proposal to purchase the blighted former Silvia Elementary School on Hartwell Street in this latest attempt to redevelop the property that sits as one of the city’s gateways.

Longtime local businessman Tony Cordeiro, doing business as Thomas Alva Edison Building LLC, sat before the City Council Committee on Real Estate on Tuesday to present his proposal to tear down the old school and develop new construction to build a 40-unit market-rate residential apartment.

According to his proposal, the project will include 2- and 3-bedroom units with five stories and one parking space available per unit.

“We’re chasing the dream, we’re not chasing money anymore,” said Cordeiro. “It’s a $22 million project; we’re going to change that area. It’s going to look beautiful.”

Cordeiro has several current and pending housing projects in the downtown area, worth over $80 million in redevelopment housing projects with an eye to bringing life back to the center of the city.

After Cordeiro’s brief presentation, the proposal was unanimously voted on by the three-member committee to forward Cordeiro’s project to a proposal review team, as required in the request for proposal criteria.

The team consists of several members of Mayor Paul Coogan’s administration team, a member of the Fall River Historical Commission and members of the real estate committee.

Once the review team completes its work, the body will send back a recommendation to the committee, which will then make a recommendation to the full City Council body.

There was no minimum bid stated in the RFP, however, the property’s current assessed value is $265,800.

Cordeiro’s bid to purchase the building and land is not yet known and still under seal, as required by law, until after an evaluation is complete.

The property was heavily damaged in the spring by an arson fire, and a portion was demolished.

Assistant Corporation Counsel Kenneth Fredette told the committee members that even though there was only one bid put forth for the Silvia School, that “while we may have received one proposal, we’re not stuck with it.”

Proposal includes parking benefit to another Cordeiro project

If the Council eventually approves Cordeiro’s Silvia School proposal, the developer said he could have the building down in 30 to 60 days and has already hired a company for the demolition.

That timeline will depend on the Preservation Commission who has the legal authority to place a six-month moratorium on any demolition of historic buildings.

To the committee, Cordeiro noted that there is plenty of parking on the Silvia project that will provide more parking for another project he’s constructing half a block away at 60 Hartwell St.

The land, located where the former Thomas Edison Light Station once stood, is a 102-unit market-rate housing project that includes 5,000 square feet of commercial space.

He is also about to launch the construction of Campbell Crossing at 295 Bedford Street with 52 units of market-rate apartments and 9,000 square feet on the ground floor set to house an adult day care center.

Cordeiro also redeveloped the Benjamin and Nathan Building on Pleasant Street, with 20 apartments, the Trolley Building on Third Street with 18 units, and the Garment Workers Building on Third Street with 18 units.

Downtown Lofts at the Merrill Building on Troy Street is set to open this summer with 36 units.

City reclaims properties

The city took back the property in January of 2024 from disgraced local businessman and former mayor Jasiel Correia II’s co-defendant after he failed to develop the property per the sales agreement with the city.

Hebert purchased the former school and adjoining buildings for just over $5,000 in 2014 with a promise to redevelop the property into a boutique hotel and restaurant.

The City Council began selling old city school buildings back in 2011.

Former Davol School sale and redevelopment currently out to bid

Like the Silvia school, the former Davol School on Flint Street was turned back to the city after the Flint Neighborhood Association also failed to redevelop the building.

The former school was transferred back to the city last September after it exercised a reverter clause in the purchase and sales agreement. 

A request for proposals to purchase and redevelop the property opened last month and with a deadline of July 18. The city listed a minimum bid of $335,000.

The non-profit neighborhood association purchased the property in January 2014 for $5,121 with plans to turn the property into a community center.

Over the years, the building housed a religious food pantry and rented out parking spaces to individual vehicle owners for $40 a month.

Exit mobile version