Source: Worcester South District Registry of Deeds and the City of Worcester assessors data
Property sale prices and assessments for the properties of Becker's Worcester campus.
October 13, 2021
Sale of Becker College properties returns $15M to Worcester tax value
Photo | Grant Welker
Becker College's Bullock Hall at 41 Sever St.
By Katherine Hamilton
Becker College, which announced its closure in March, has sold the majority of its Worcester campus to local developer Russ Haims, returning more than $15 million in assessed property value to Worcester's tax rolls, as the properties are now no longer subject to nonprofit tax exemptions.
Russ Haims, founder of Hampton Properties, LLC in Worcester, bought 27 properties of Becker’s Worcester campus for a total of $10 million in a deal closed Oct. 8, according to lawyer Tom Bailey of Foxborough law firm Verdolino & Lowey, who has been representing Becker in the sale of its Worcester and Leicester properties.
Based on assessed values of 2021, the sale of those 27 properties to a private developer would yield about $550,000 in taxes if the properties are taxed at the city's commercial property rate, or $247,000 if they end up being designated for the residential tax rate.
While in operation, Becker College was designated as a 501(c)(3) nonprofit, exempting the institution from taxes.
The purchases were broken up into several deeds, sold to Hampton Properties, LLC and Haims Investment Group Inc., both of which are registered to Hampton Properties on Elm Street in Worcester.
Included in the acquisition were dormitories, health facilities, and offices. Haims’ company has a history of restoring historical buildings, including some in the Elm Park neighborhood where Becker was located.
The majority of the properties are residential, Haims said in an interview, with the exception of the former Boutin Student Center at 44 West St., which sold for $525,000, and the Colleen C. Barrett Center at 80 William St., which sold for $2.2 million. As commercial real estate, these two properties could generate income and drive up their property tax assessments.
The City of Worcester announced plans in July to acquire three of Becker’s properties, including the former Weller Academic Center and the Health Sciences Education Center on Sever Street, as well as the tennis courts on the corner of Sever and Highland Streets.
The former two properties are assessed at roughly $4.8 million. Worcester officials have said the proposed price tag for the three properties is $4.6 million. If the city ends up completing the purchase, those properties would be exempt from property taxes.
Meanwhile, the college is moving ahead with selling its Leicester campus to the town for nearly $18 million. Those properties, since they would be owned by the town, would be exempt from Leicester's property taxes.
The proceeds from Becker’s sales will go toward paying off the institution’s debts, which amount to roughly $30 million, Bailey said. The various proposed and completed sales of Becker's Worcester and Leicester campuses totals $32.4 million.
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