Bay State Savings buys former Becker student center for $3M, will reveal plans at later date
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This former Becker College property at 44 West St. has been bought by Bay State Savings Bank for $3.15 million.
Bay State Savings Bank is planning to expand its presence to a former Becker College property, after purchasing the parcel for $3.15 million.
The 129-year-old banking institution purchased the property located at 44 West St., the former site of the Becker College Boutin Center, which the now-defunct school utilized as a student center before it closed in 2021, according to a Wednesday press release announcing the sale.
“It just felt right for our people and it’s an investment in the community,” said Seth Pitts president and CEO of Bay State Savings Bank.
The property is part of the Elm Park Neighborhood Local Historic District, a designation the area received in 2023, said Pitts.
The bank will continue to be headquartered at 28 Franklin St. and its branch at that location will remain in operation, said Pitts, who added Bay State Savings would reveal its full plans for the site at a later date.
“We’re extremely committed to being a Worcester-headquartered bank,” said Pitts.
The roughly half-acre parcel at 44 West St. was sold by Hampton Properties, a property management firm operated by Russ Haims, which purchased 27 former Becker College properties following the school’s demise in 2021. Hampton paid $525,000 for 44 West St., according to City of Worcester property records.
Constructed in 1986, the 18,468-square-foot building had been leased to Worcester Polytechnic Institute by Haims. The property was given a tax assessment value of $4.57 million in 2024, according to City property records.
James Keogh and Alexis Brissette, vice presidents at Worcester-based NAI Glickman Kovago & Jacobs, represented Hampton Properties in this transaction.
“Facilitating the sale of the former Becker College Boutin Center to Bay State Savings Bank has been a meaningful experience,” Keogh said in the Wednesday press release announcing the sale. “We are deeply satisfied knowing that it will continue to be a place of connection and service under the stewardship of a local institution committed to furthering its legacy as a cornerstone of the city’s business community.”
Bay State Savings Bank is the 20th largest bank in Central Massachusetts, when ranked by local deposits as of June 30, 2023, according to the WBJ Research Department. The bank has $481.8 million in local deposits and $ 536.8 million in total assets as of March 31, 2024, according to the Federal Deposit Insurance Corp.
Eric Casey is a staff writer at Worcester Business Journal, who primarily covers the manufacturing and real estate industries.
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