Testing the water

The Mystic River. (Photo by Jim Mahoney)

Exxon site market value being explored


The sprawling 90+ acre Exxon site in Everett’s former industrial district is being test-marketed to ascertain interest and value, according to an Exxon source in Everett who wished to remain unnamed.

The source insisted that nothing was going to happen overnight and that Exxon employees working on the site are expected to remain in their jobs for the next year at a minimum.

The mayor has touted the property as the likely development center for high tech, bio-med research district akin to that in Cambridge and Somerville.

However, the Exxon official has admitted that two major economic powerhouses are now vying for the Exxon property.

The official said it appears that the Patriots Robert Kraft, owners of Gillette Stadium, are interested in the property as the place for a professional soccer stadium.

He claimed the mayor is aware of this.

In fact, he said that Kraft treated nearly the entire Exxon Everett staff to a football game recently with complimentary seats.

“I believe that shows some real interest in getting a leg in for a soccer stadium,” said the source.

The Exxon source said that Kraft wasn’t alone in wanting the property.

He said that Amazon is looking it over seriously as the setting initially for a mammoth Everett packaging and delivery center.

A soccer stadium certainly would be a unique use for the property.

However, there will be a rush of local officials complaining that such a sporting facility will cause a crush of traffic on an already traffic packed Revere Beach Parkway.

The Everett waterfront with Encore Boston Harbor resort, Exelon and Exxon could be in store for a new look. (Photo by Jim Mahoney)

In addition, nearby apartment and skyscraper apartment developments may not mix well with a soccer stadium, some observers believe.

Amazon already operates such a facility in Revere at the former Necco Wafer property located on 50 acres of land.

Boston has refused to allow Amazon to build within the city’s limits.

Boston elected officials and businesspeople complain that Amazon doesn’t pay well enough and that the jobs offered are inferior.

However, many other businessmen believe Amazon is the future, and that the future is here.

An Amazon facility in Everett could employ as many as 5,000 to 6,000 men and women.

Amazon is now offering higher minimum starting salaries, health benefits, and more liberal benefits to its employees who wish to advance themselves with college educations.

Both companies wishing to buy the property, which is polluted, will require deep pockets.

With an acre of Everett industrial land selling in the $5-$7 million range, the purchase price could be as much as $600-$700 million in the local real estate marketplace.

Pollution eradication and soil remediation at the site would require tens of millions of dollars and will require a great deal of time because of the complexities that abound on the Exxon site.

There are giant oil tanks, many of which have been leaking for decades, which must be removed.

A giant web of railroad tracks that must be removed covers a great deal of the property as well.

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