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CHICOPEE — Valley Opportunity Council — which seeks to provide parking for the redevelopment of 30 Center St. — has purchased the former Polish National Credit Union branch at 244 Exchange St. for $418,000.
The sale was recorded in the Hampden County Register of Deeds on December 12th.
Polish National Credit Union closed its Exchange Street branch in 2020 as part of its strategic plan. Valley Opportunity Council has two other branches nearby (46 Main St. and 923 Front St.) and Valley Opportunity Council has two other branches nearby, according to Valley Executive Director Stephen C. Huntley. The company said it plans to continue its lease agreement with the union, allowing it to maintain smart ATMs at 244 exchanges. Opportunity Council.
“We’ve been trying to improve the neighborhood there little by little,” Huntley said.
- read more: Valley Opportunity Council purchases “distressed property” in Chicopee.We want to create affordable housing downtown.
This is the fourth property the Valley Opportunity Council has purchased in downtown Chicopee Center, which includes the problem property at 30 Center Street, The Kendall at 25 Springfield Street, and other tenants in the Greater This will be the fourth location, following 48 Center Street, which is the building that houses the Chicopee Chamber of Commerce. .
Huntley said 30 Center St. is not adjacent to 244 Exchange St. in the rear, but it is very close.
“We don’t want to have a negative impact on the area by removing parking in redevelopment,” he says.
Purchased by the Valley Opportunity Council in 2022 for $1.35 million, 30 Center Street currently has four apartments with four more available. We rent three of his stores: Hot Oven Cookies, women’s clothing store Mordamia, and Island Spice Restaurant.
Huntley said the Valley Opportunity Council is looking for a new tenant for the bank branch building, which city records show was built in 1971.
The branch building and its parking lot, purchased by the Valley Opportunity Council, total just half an acre of land.
Huntley said the purchase price was funded from the agency’s reserves.
Also, the Valley Opportunity Council’s project to transform Belcher School into new apartments will begin soon.
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