The properties include 12 multi-unit buildings with parking lots on Spring, Winter, Salem and Elliot streets.
Armoury Commons Apartments on Pearl St. SPRINGFIELD — More than 12 properties, including 250 apartments in a historic district, will be auctioned Sept. 25 in a foreclosure sale.
Auctioneer Stephen Dean said the auction of Armoury Commons, which was originally scheduled for Wednesday, has been postponed while the bank tries to work out an agreement with the owner, Waterfront Hampden LLC.
“All I know is the auction has been rescheduled for now,” he said.
The properties include 12 multi-unit buildings with parking lots on Spring, Winter, Salem and Elliot streets, a tennis court at 69 Pearl St. and a mixed-use building at 45 Pearl St. All properties are part of apartment blocks known as Armoury Commons.
Robert McCarroll, a member of the Springfield Preservation Trust and Springfield Historical Commission and a longtime resident of the neighborhood, said the complex includes a dozen apartment buildings built in the early 20th century.
“The area is listed on the National Register of Historic Places,” he said.
McCarroll said the buildings were vacant or partially occupied for many years until the 1970s when there was a major renovation spearheaded by the Springfield Institution for Savings, a bank that owned the properties for years.
“They renovated 250 units, and the city helped the project along by creating new brick sidewalks, providing new utilities, decorating the street with trees and building the park on the corner of Spring and Pearl streets,” he said.
Units will be auctioned off in seven groups, which will be followed by a sale by entirety. If the bidding price for the sale of entirety is more than the sum of the separate sales, then the separate sales will be discarded.
A minimum deposit of $50,000 will be required for each individual sale, and a minimum of $250,000 will be required for the entirety sale.
Dean said he cannot discuss the total value of the properties because it is a foreclosure sale.
Evan Plotkin of NAI Plotkin Commercial Real Estate Services, which manages the properties, said the foreclosing bank is Arbor Commercial Mortgage, a Fannie Mae lender.