The project will provide 100 beds in apartment-style housing.
The former Westfield State Normal Training School on Washington Street is seen in 2008.WESTFIELD University Housing LLC has set an aggressive target date of January, 2012 to complete its rehabilitation and creation of market-rate housing at the former Westfield State University training school on Washington Street.
Robert J. Schwarz, vice president of Peter Pan Bus Lines and owners of University Housing, said this week the new apartment style housing will target students at Westfield State University as tenants.
Westfield State Foundation, the non-profit financial arm of WSU, announced on Monday a pending purchase and sales agreement with University Housing, created by Peter A. Picknelly and the bus company’s Opal Real Estate Group.
“Westfield State University is exploding and the city of Westfield is on the move,” said Schwarz. “This presents a perfect opportunity and we hope this project will be the first of others for our management team,” Schwarz added.
The Foundation did not reveal the sale price for 27 Washington St. brick structure built in the 1800s. And, Schwarz would not reveal the estimated cost of the housing project “until after the closing” of the transaction.
A closing date for the property transfer is listed as the fall but Schwarz said “it will be sooner.”
“This project is a first through Opal Real Estate Group but our management team has done housing for other colleges like Amherst College,” said Schwarz.
As for the rehabilitation schedule, he said “we are aggressive and progressive and we are excited about the project.”
He also noted a shortage of housing for university students.
WSU President Evan S. Dobelle has complained during the past three years that he is forced to “turn away” students because of the lack of housing. As many as 500 students did not enroll in each of the past two years at the college, he has said.
The building conversion will focus on maintaining historical aspects of the structure, which in recent history served as home to Westfield District Court until 2006.
The university currently has 216 students assigned to housing at Lansdowne Place on Thomas Street under a state-supported 10-year lease costing $1 million annually.
The Washington Street project will not be financially supported for student housing, officials said. But, it will be listed as an “alternative” for students through the university’s housing department.
The Foundation re-aquired the Washington Street parcel in 2006 and last year had hoped to sell it to Boston Realty Associates which planned creation of an Academic Village with apartments and limited commercial space.
That project was estimated at $8 millions but last July Juan M. Cofield, president of BRA, announced he was unable to secure funding.