Take charge of this incredible redevelopment opportunity available in Worcester County.
The Wright's Mill Complex illuminates the history of manufacturing in West Warren in Central Massachusetts, stretching from the early 1800s to the 2000s. Comprising 15 buildings across six separate parcels, the development totals approximately 592,000 gross square feet on 92 acres. The buildings are generally well-maintained and were once part of a bustling mill complex that produced cotton fabric, parachutes for World War II, and ribbons over the years.
A mix of residential and forested areas and the Quaboag River to the north border the property. The mill complex and several of its buildings are listed on the Massachusetts Historic Commission's Inventory of Historic and Archaeological Assets of the Commonwealth (Massachusetts Historical Commission). Mill Conversion Overlay District (MCOD) zoning offers redevelopment flexibility that includes, but is not limited to, multifamily residential, light manufacturing, warehousing, office use, multi-tenant retail, arts, and institutional needs.
Engaged residents and friendly local government surround the mill. The redevelopment of Wright's Mill could benefit from a range of public funding and financing tools, including state and federal programs successfully leveraged by similar projects. These programs vary in eligibility, with some designed for private developers and others reserved for public entities. Options to assist with reducing the cost of redevelopment include 40% historic tax credits, other tax incentives and credits, grant programs, low-interest loans, and infrastructure financing mechanisms.
Warren is midway between Springfield and Worcester, and the Wright's Mill complex could capture demand from these major metropolitan areas. The site is convenient to dining and retail amenities along State Route 67 and within 12 minutes of the Massachusetts Turnpike Palmer interchange. Approximately 66,260 residents live within 10 miles of the property, representing an average household income of nearly $98,900 annually.
Wright's Mill is in a unique market position for redevelopment, given its extensive size, Springfield and Worcester connectivity, and flexible zoning for various mixed uses.