Overview

Description

Kelleher & Sadowsky is pleased to offer land parcels collectively known as New Bond and C Streets in Worcester, MA. A ±51 acre redevelopment site, currently utilized by Saint-Gobain Abrasives, Inc. ("Saint-Goban").

The property was recently sold to New Garden Park, Inc., a wholly owned 501(c)(3) non-profit organization subsidiary of the Worcester Business Development Corporation ("WBDC"). WBDC's mission is to add value through collaborative redevelopment projects with a focus on leveraging and promoting the local creative and innovative economy. Saint-Gobain is in the process of consolidating its operations to its south campus on West Boylston Street in the near future over a scheduled period of time.

The WBDC is seeking developers or users to purchase either the first phase (15 acres) or the first two phases (29.67 acres) with the opportunity of acquiring the remaining two phases over the next one to three years. Working cooperatively with the developer, the WBDC will be responsible for creating new public roads to improve access, upgrading utilities, environmental remediation, and demolishing existing buildings to allow the developer to construct new state-of-the-art commercial properties that meet the demand for any of the following uses that are allowed by right; industrial/warehouse/distribution, life science and high-tech
manufacturing buildings. Zoned MG-1, the site can accommodate a variety of uses with the potential to redevelop up to 950,000 SF.

Given the scarcity of large, assembled, developable land sites in major cities, this site offers an incredible opportunity to a developer to partner with the WBDC and capture the strong market fundamentals that continue to expand from Boston to Worcester.

This re-development opportunity is located directly off of I-190 (Ararat Street Exit) and is minutes from the I-290 & I-190 connector. The site is also directly between Route 2 to the north and Route 9, Route 20, and the Mass Pike (I-90) to the south, with easy access to I-495. The property is located in the north section of the City of Worcester, which is in close proximity to UMass Medical Center, UMass Medicine Science Park, The Reactory and minutes away from Downtown Worcester. Within 1,000 feet of this site, you have highway access which connects to major highways and thoroughfares.

ACQUISITION - WBDC is seeking proposals from developers to acquire the first phase, approximately ±15 acres, of this ±51 acre site to transform this area of Worcester into a thriving commercial business park supporting all of New England. When submitting offers, developers should provide their vision for the first phase and conceptual plan and financial plan for the remaining phases.

WBDC - Dating back to 1965, the Worcester Business Development Corporation "WBDC" has been partnering with developers in and around Worcester, taking on challenging projects that require Federal and State Grants, local permitting expertise, Tax Credits and environmental remediation. These projects include The Reactory, Gateway Park, The Hanover Theatre, The Fidelity Bank Worcester Ice Center, and Voke Lofts. See www.theWBDC.com for more details.

THE SITE - Currently the site is comprised of ±51 acres with approximately 1.6 mil square feet of aging infrastructure, turn of the century and brick and beam manufacturing buildings that were originally constructed for the Norton Company. The plan is to demolish the existing buildings and structures, remediate the site of any environmental issues, create new public roadways and upgrade utilities and infrastructure. As Saint-Gobain consolidates out of properties over a three (3) year period, the plan is to re-develop the site in phases.

Documents

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