New London ― A developer with ties to several downtown projects has received approval to transform a long-vacant church into an apartment building that will offer a small number of affordable units.

The Planning and Zoning Commission on Oct. 3 approved special permit and site plan applications submitted by the Parker Benjamin firm to convert the former Apostolic Cathedral of Hope at 157 Green St. into 11-unit complex consisting of studio, one-bedroom and townhouse-style apartments.

Parker Benjamin, which specializes in real estate development and investment banking, bought the former house of worship for $315,000 in April from local businessman Rod Cornish who previously had planned to turn the church building into an event venue.

Because the application was filed under the city’s Incentive Housing Zone regulations, which gives priority to the adaptive re-use of existing historic buildings, 20% of the units will be deemed affordable.

The former church is located within the Starr Street Historic District at the corner of Starr and Green streets. The city’s Historic District Commission on Sept. 23, granted approval for exterior renovation work, which involves upgrading windows. No other exterior work to the church’s stone facade is planned.

Dimitrios Karouta, Parker Benjamin’s director of development, told Planning and Zoning Commission members his company is working with the State Historic Preservation Office (SHPO) to “retain the historic interior” of the church, according to meeting minutes, though three new floors will be constructed to accommodate the new apartments.

Karouta, who could not be reached to comment on Monday, told commission members it’s likely the building’s studio apartments and a one-bedroom unit would be designated as affordable housing.

Parker Benjamin is also in the process of finalizing the purchase of the 6 Union St. Monte Cristo building, located less than 500 feet from the Green Street church. Company officials said they hope to renovate the building, home to a sail-making business, into another apartment complex.

The City Council in June authorized Mayor Michael Passero to apply for up to $950,000 in state Community Investment Fund Program grants to help pay for the work at the two buildings. The awards require a 25% match by Parker Benjamin.

Parker Benjamin lists several New London projects – both completed and ongoing – on its résumé of revitalization jobs, including the restoration of the Manwaring building on State Street into Connecticut College student housing; the plan to create a mixed-use luxury apartment/retail complex on Bank Street; and the proposed refurbishment of a former silk mill on Garfield Avenue into market-rate apartments.

Company officials previously said they hope to welcome leasers to the Green Street complex, to be renamed “Tilley Corners,” next summer.

j.penney@theday.com