For over a year, the St. Patrick's Old Cathedral compound on Prince Street in Nolita has been destined for a conversion. The church sold its orphanage/school/convent properties to a development team of Hamlin Ventures and Time Equities in December 2013. But the duo just now released the first rendering of their plans for the landmark, which includes seven loft-style condos (2,600 to 5,000 square feet, many with outdoor space) and two townhouses (9,000 to more than 10,000) designed by Marvel Architects and, eventually, brokered by CORE. It cost Time and Hamlin a greater-than-expected$30.7 million to acquire the properties, and St. Patrick's will use those monies to fund renovations. Of course, it's just one of many religious institutions saying "God, yes!" to cash from residential developers in order to pad their coffers.
The proposal has been approved by the Landmarks Preservation Commission.