New future for Factory of Future |
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“This is the day we begin to bring 400 jobs to this site,” said James M. Cowdell, executive director of the city’s Economic Development and Industrial Corporation. The partial demolition will take 10 days — weather permitting — and sets the stage for a construction of the store to build the store and add 20,000 additional square footage. “GE built a very solid foundation and we are adding to it,” said Charles Patsios, the site’s owner and Swampscott developer. Shuttered since 1988, the once state-of-the-art factory sat empty until the mayor met with high-level GE executives to discuss steering the site toward redevelopment. Patsios bought the 16-acre property from GE in 2013 for $4 million. Market Basket CEO Arthur T. DeMoulas joined city and state officials last year to announce $2.5 million in state money for road improvements around the site. The work will start this summer with contractors creating turning lanes on Spencer Street. Additional road repair working and street lighting installation will be done on streets surrounding the site, including Marion and Waterhill streets. Kennedy said the new Market Basket will attract Lynn shoppers and customers from Nahant, Saugus and other communities. Lou St. Onge, Kidder’s project manager, praised City Hall for working with the demolition firm to prepare the site for excavation. “You’re very good,” he said. Thor Jourgensen can be reached at tjourgensen@itemlive.com.
March 14, 2016ryorkLynn, NewsArthur T. DeMoulas, Charles Patsios, General Electric Factory of the Future, James Cowdell, Judith Flanagan Kennedy, Lou St. Onge, Lynn, Market Basket, Thor Jourgensen
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