WOONSOCKET – A vacant lot that once belonged to the Catholic Church recently sold for $420,000, according to an announcement by the real estate firm that brokered the deal.
The new owner of the 0 Fourth Ave. property plans to develop the 1.26-acre site into an “upscale condominium project,” according to Engel & Völkers Oceanside, which represented the seller and secured the buyer in this transaction.
The vacant property, which is mostly a paved asphalt surface, was part of the former Sacred Heart Church that was bought in 2022 by Nexus Property Management and its CEO, Gregory J. Rice.
A rectory on the site and a church building constructed in 1920, with its final Mass in 2018, were transformed by Rice into 32 apartments in a construction project that was completed earlier this year. But the vacant 1.26-acre lot remained.
According to the warranty deed, a public record of the sale, the vacant lot was sold by Belchikoo LLC, a limited liability company based in Pawtucket that is affiliated with Rice and Nexus Property Management.
The former church property was purchased by JDM Holdings LLC, a limited liability company based in West Warwick. JDM Holdings is a property owner and landlord of residential apartment buildings associated with Concepcion Pacheco, of West Warwick, according to corporate documents filed with the R.I. Office of the Secretary of State.
Engel & Völkers called the buyer “an established developer with a successful record of high-quality residential projects,” which was drawn to the parcel’s potential and Woonsocket’s opportunity for growth.
Rice, who called the buyer “a visionary buyer,” described the site as “prime land with potential for 16-plus condos” or apartments.
“The new development concept envisions a collection of luxury one-bedroom condominium units designed for young professionals seeking elevated living experiences at attainable prices,” according to an announcement of the land sale from Engel & Völkers.
The deal was brokered by Emilio DiSpirito, license partner and private office adviser with Engel & Völkers Oceanside.
The vacant property was most recently valued by Woonsocket assessors in 2025 to be worth $148,700, according to the city’s online property tax evaluation database.
Marc Larocque is a PBN contributing writer. Contact him at Larocque@PBN.com. You may also follow him on X at @Marc_La_Rock.
