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Around the Region: Business BriefsStaff reports - February 19, 2008
Clark Biscuit Renovation Moves Forward
NORTH ADAMS - The renovation of the old Clark Biscuit building on Ashland Street is expected to start soon.
Arch Street Development, operating as Clark Biscuit Apartments Limited Partnership, purchased the property for $167,000 on Friday from the city. The Needham company specializes in revitalizing neighborhoods by revamping older buildings for affordable housing.
The former mill will be turned into 43 one- and two-bedroom housing units for low- and middle-income residents.
The company first expressed interest in the mill, taken by the city for back taxes, more than a year ago; it's taken that long to put together a $3 million financing package, part of which will be funded with grants. The cost of the renovation is estimated at $12 million.
Mayor John Barrett III said on Friday that the necessary permits have been completed. "I expect them to start in the very near future."
Tina Brooks, undersecretary of the state Office of Housing and Community Development, toured the structure Friday morning with state Sen. Benjamin B. Downing, D-Pittsfield, Barrett and Arch Street principals Colin O'Keeffe and Rich Relich and other officials.
Arch Street also plans to purchase the Notre Dame property on East Main Street from the city and convert the school into upscale condominiums.
Casino Developer Betting on Bill Passage
PALMER - A Longmeadow man who once tried to put a casino at the Greylock Glen in Adams is hoping Gov. Deval Patrick's gambling proposal will finally pay off.
According to The Republican of Springfield, Leon H. Dragone's various attempts to establish gaming in the western end of the state have been trumped by lawmakers on Beacon Hill. Now, however, he's sees a glimmer of hope in Patrick's push to permit the operation of three casinos to pump up revenues.
Dragone has 150 acres in a possible casino site - Palmer - and is leading a group of investors betting that the bill will make it through the State House. Dragone signed an exclusive agreement with the Mohegan Sun casino in Connecticut to develop an at least $1 billion casino resort; Mohegan is the only entity so far that has said it would apply for one the casino permits.
Leading lawmakers, including state Rep. Daniel E. Bosley, D-North Adams, have long been opposed to casino gambling.
Dragone was involved in the failed attempt to develop the Greylock Glen around a hotel/casino project in the early 1980s. The latest proposal for the glen is an environmental center and campground. |
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