Saturday, June 30, 2007

Former Police Station For Sale, Again!

It looks like the former Fall River police station is back on the market.

For those who may recall the city auctioned off the building not once but twice! The first time around local developer, Anthony Cordeiro won the bidding. Cordeiro has a proven track record and proposed tearing down the existing building and constructing a new office complex.

It sounded good but when some minor issues turned up concerning the bidding the process the mayor asked for the process to begin anew.

This time around a minimum bid was established based on the appraised value of the property. Anthony Cordeiro unhappy over the outcome decided not to bid again and the property was awarded to JPS Investment Group of Florida, owned by a former city native, John Pavao.

Pavao, whose winning bid of $160,000 was roughly 6 times more than the previous bid, also had grand plans for the property. His proposal was to renovate the building with office and restaurant space, but just a few months after purchasing the building he has put in back on the marked for close to $700,000!

Lefty's view: It's disappointing that in choosing to rebid the property the city missed out on having the former police station site developed by someone with a proven record and instead find our interests unprotected and at the mercy of a developer's financial interests. John Pavao stated in the paper that although the building was up for sale that most likely he would carry on with his original proposal, which we can only hope is the eventual outcome.

1 comment:

Anonymous said...

He's recently bought a golf course in Lakeville. He's moving very quickly to rehab the place...VERY quickly. I'm curious to see how things pan out.