MINNESOTA
Star Tribune
By Jean Hopfensperger Star Tribune JANUARY 28, 2016
Potential buyers of the Twin Cities archbishop’s home and office have until March 18 to make an offer, under procedures approved by a bankruptcy court judge Thursday.
Prime real estate owned by the Archdiocese of St. Paul and Minneapolis has seen renewed interest in recent weeks from prospective bidders, from groups ranging from housing to office developers, said real estate broker Paul Donovan.
“There’s strong interest,” said Donovan, who attended the court hearing. “The potential uses [of the property] explored have been creative, from re-purposing the offices to a complete redevelopment.”
The Summit Avenue chancery, across from the St. Paul Cathedral, is among those being sold by the archdiocese to pay off creditors. The archdiocese filed for bankruptcy last January, following a flood of clergy abuse claims.
The court approved a $2.75 million purchase agreement with United Properties Development earlier this month, which drew criticism for being too low. The chancery property was valued at $6.3 million “based upon the Archdiocese’s review of Ramsey County public records,” according to court documents.
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