The majestic, albeit ailing Bank Street Armory once housed a volunteer militia, the National Guard and the Greater Fall River Re-Creation among its tenants before it was shuttered by the city building inspector in April 2015. Now a local developer with a track record of transforming old city buildings is eying the castle-like structure for redevelopment into 37 market-rate apartments or possibly a mixed-rate project with 20% of the units deemed affordable.