the rumor mill

The Rumor Mill

Simply - rumors heard or shared about the site

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.

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