the rumor mill

So much discussion abounds this project that rumors are abounding. The future of the buildings are inextricably linked to the uses on the property - and so, here is a collection of "heard on the street" nuggets. Caveat - these are not facts, merely conjectures and rumor.

• • That a large steel company from Fort Wayne, Indiana with ties to Bain Capital is a possible suitor for the property. The company is the fifth largest producer of carbon steel and owns a large subsidiary that handles scrap processing and recycling.

  • Asbestos Abatement has begun and several buildings are being demolished behind the closed gates

  • Local Attorney is in active discussions with an Indianapolis based fortune 500 company that may be interested in purchasing the land.

  • The current owners are hoping to get at least $10M for the property and have spent at least that much including acquiring the property and on failed re-zoning and preliminary clean-up of the land.

  • The re-zoning may have been nixed by a local developer that had hopes to develop the property and at one point held a P&S agreement which fell through.

  • Apparently a brown package delivery company has been looking at the property as a distribution facility.

  • Nstar is installing new power lines into the plant due to the fact that the "pcb" filled transformers that had powered the property were removed earlier this Summer.

  • The Subdivision plans recently filed with the local Planning Board cut the hazardous waste "brownfield" that is polluting the Neponset River off from the developable portions of the property.