An abandoned Catholic school on North Side is being targeted for a projected $10 million transformation into 92 affordable apartments for the elderly and disabled.

Dr. Victor L. Davis, longtime pastor of Bethlehem Baptist Church in Church Hill, is leading the effort to provide a new use for the former St. Elizabeth School. Location: The 1000 block of Fourqurean Lane near the grounds of the city’s Hotchkiss Recreation Center.

Dr. Davis is taking on the project in his capacity as president of the Canaan Housing Foundation, whose mission, he said, “is to provide housing for the elderly.”

The foundation, a nonprofit outgrowth of Bethlehem Baptist, dates to 1995. The foundation began as a limited partner in the redevelopment of the Bowler and Bacon Elementary schools in Church Hill.

Developer H. Louis Salomonsky transformed the former schools into apartments for seniors, with 65 units in one and 67 units in the other.

As part of using federal low income tax credits in the school projects, Mr. Salomonsky agreed at the time to transfer ownership after 15 years to the foundation as the majority owner and to other limited partners.

“That happened,” Dr. Davis said. Until recently, he said, much of the foundation’s work has gone into ensuring the former school buildings are properly maintained and managed.

He said demand for the apartments remains strong. “We have waiting lists,” he said.

That’s a big reason the foundation now is looking to take on a new project, he said. With more baby boomers entering retirement, there will be more demand for such units, he said.

The school used to be part of nearby St. Elizabeth Catholic Church, 2712 2nd Ave., a predominantly black parish where U.S. Sen. Tim Kaine has been a member. The school operated from 1951 to 1982 before closing, according to the church’s history.

The property was sold, but in the decades since, little has happened to the building that has become a decaying eyesore. The building currently is listed as owned by Chestnut Commons LLC.

Picking up from a previous attempt to turn the building into apartments, Dr. Davis said the foundation is applying for a special use permit to convert the building into apartments. The proposal calls for fixing up the old school and adding more space in a two-phase approach.

The project, which also would involve the purchase of a piece of adjacent land still owned by the Catholic Diocese of Richmond, is still in the early stages.

At a meeting Saturday held by the area’s representative, City Councilwoman Ellen F. Robertson, neighbors of the building raised concerns about the traffic the project might generate on the residential street.

Dr. Davis said the foundation will be working to satisfy the city and area residents. He said the foundation also plans to apply for low income tax credits to help with financing. “We still have a ways to go,” he said.