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ABCD to purchase former Sky Cap Lounge from Charles St. AME

Yawu Miller
Yawu Miller is the Banner’s senior editor. VIEW BIO
ABCD to purchase former Sky Cap Lounge from Charles St. AME
The Charles Street AME Church is seeking a bankruptcy court judge’s permission to sell the Renaissance Center at auction, but a creditor, a U.S. Trustee and a potential bidder filed objections to the church’s plan in a hearing Monday.

Action for Boston Community Development will buy the Charles Street AME Church’s Roxbury Renaissance Center building for $2.9 million. The purchase will include an adjacent parking lot and storefronts on Warren Street.

Charles Street, which is in bankruptcy, owes OneUnited and other creditors in excess of $5 million. Most of that debt was accrued when the church attempted to redevelop the Renaissance Center – formerly the Skycap Lounge – as a function hall.

Charles Street filed for Chapter 11 bankruptcy protection in 2012. In the two-and-a-half years of bankruptcy proceedings, bank has sought to recoup the its loans, arguing that the First District AME – which oversees Charles Street – co-signed for the $4.7 Charles Street originally borrowed from OneUnited, agreeing to repay the loans in the event of a default.

In addition to OneUnited, Charles Street owes about $630,000 to Thomas Construction Company, the Dorchester firm hired to build its proposed community center. Another $450,000 is owed to Tremont Credit Union for a loan to repair the church’s roof, in addition to funds owed to other creditors.

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