The old Independent Order of Odd Fellows building

The old Independent Order of Odd Fellows building on 73 Hanover St. in Manchester (in foreground) will house 43 apartments.

MUCH LIKE the well-known Citizens Bank building it owns in Manchester, Red Oak Apartment Homes hopes to transform another commercial building nearby into apartments.

The company purchased 73 Hanover St. for $1.5 million at the end of last year with the intention to convert the upper four floors into 43 market-rate apartments, according to owner Ron Dupont. The 1871 building once housed the Independent Order of Odd Fellows.