SPRINGFIELD, Mass. (WWLP) – The former Federal Land Bank building in Springfield has been purchased by a developer.

Developer First Resource Companies has purchased the 99-year-old building and intends to create 52 units of affordable housing there. The building is located at 300-310 State Street and is within walking distance to many amenities of downtown.

Springfield Mayor Domenic Sarno told 22News he’s delighted to have First Resource Companies take on this project, saying that CEO Gordon Pulcifier has an impressive work history in the city on various other projects, “There’s a community component, there’s a public safety component. He just does great work and this continues to enhance our redevelopment of State Street.”

The plan for this building had been introduced to the Springfield City Council by First Resource companies in December of last year. First Resource Companies plans to begin working on the project in 2023.