Former Hamburg convent lined-up for $50 million makeover

After over 80 years of service, the Immaculate Conception Convent in Hamburg has closed its doors for good. A group comprised of three different investing parties has purchased the sprawling 18.5 acre property for $1.25 million, and has grand plans for its future. Given the infrastructure currently in place, as well as an expansive amount of undeveloped land; the new developments are likely to take place in several stages over time. As of now the leading proposals that the team of buyers would like to pursue include: market-rate apartments, townhomes, retail space, and an assisted living facility. Check out the link provided here for a more in-depth look at this story.