Abbey Grill auction is back on
By Staff reports
GateHouse News Service
Posted Aug 18, 2009 @ 08:12 PM
Fall River —For the third time this year the foreclosed Abbey Grill hits the auction block Thursday at 1 p.m.
“It’s still scheduled,†a clerk of the law firm handling the mortgage for Millennium bcpbank said Tuesday.
But cost associated with the 134-year-old former church buildings and 160-foot high damaged brick steeple, along with the millions owed to the bank and government, may prove too hefty a price for bidders.
“Whoever buys this is going to have to spend a lot of money,†Building Inspection Director Joseph Biszko said.
Biszko said he’s had discussions with Mayor Robert Correia on the possibility the bank’s problem could become the city’s.
“We don’t want to end up with it,†Biszko said. “But we’ve planned for that possibility. … If everybody walks away, it’s ours.â€
Local developer Jerry Donovan, who last year bought the nearby historic Eagle Restaurant as a performing arts center/museum, expressed skepticism a sale would happen.
“I don’t think there’s much of an interest at that amount of money,†Donovan, who’d considered a bid, said of the outstanding mortgage, estimated repairs and back taxes. . . .
