Resold for $16 million
O’Connell Development Group acquired this vacant, contaminated former manufacturing facility in 2010. Its million square feet of buildings, filled with asbestos and other hazardous materials, needed to be remediated and demolished before any form of reuse would be possible.
THE ODG APPROACH
Working with the Massachusetts Department of Environmental Protection, O’Connell Development Group first defined exactly what needed to be done to make redevelopment possible. We then designed a strategy for meeting the environmental criteria cost-effectively. We realized the project with our affiliated company, Daniel O’Connell’s Sons, completing the environmental remediation of the buildings and the site, managing the utility disconnections, and demolishing all but one of the buildings.
In January 2012, the property was sold to Ameristar Casinos Inc. of Las Vegas, which purchased the land for a potential $500 million casino resort.