"The building is in need of a lot of work," Father John Ullrich, rector of the Shrine, tells GlobeSt.com. "We will work with the developer and the city in terms of the appropriate kinds of things that need to be done." Ullrich notes that the city has indicated its desire for a residential component to the project, including an affordable housing element.
Among the requirements of the RFP is the need for the Order to find adequate housing so it can continue to provide services to parishioners. Interested developers will also need to donate $1,000 to St. Francis House, a day shelter.
According to a released statement, the Order is also reviewing its real estate holdings in other parts of the country to determine "how these properties may be better utilized to further its mission." The release notes that the Order is working on rebuilding facilities on a large parcel of land it owns in midtown Manhattan.
The selection process for this redevelopment is expected to be completed by this spring with construction to begin within two years.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.