The purchase and sale of the old police station on Bedford Street in Fall River has been approved by the real estate subcommittee of City Council.
If approved by the entire Council and the mayor, this $10,000 purchase will lead to its conversion to apartments.
Matthew Thomas, a lawyer from New Bedford who provides legal advice related to real estate to municipalities including Swansea, Seekonk, and Fall River, said that the building, which is four stories high, will create 30 market-rate apartments. More information about such apartments, including their features, amenities, and prices for leasing, can be provided by flyer printing.
Wethersfield LLC, based in Chelsea, is interested in buying the property. The company has already signed the purchase and sale agreement and made a deposit of $8,200. Marc Lederman is the manager of Wethersfield LLC.
If agreed upon, the final contract would need to be signed by the end of the year. The next steps, to be completed in 2021, include the remediation and clean-up of the site, which is currently contaminated, and finalizing all financial and permitting arrangements. Construction would get underway in 2022, with a certificate of occupancy issued no later than the following year.
Lederman also owns Lederman Engineering Inc in Chelsea and has been redeveloping properties since 1995. He said he specializes in buying, renovating, and renting buildings.
