Davis Companies Pullout Inexplicable
By Josh Resnek
The Exxon Mobil 95 acre property set to be the largest development in Everett’s history has collapsed.
As of September 13, the proposed redevelopment of the sprawling and heavily polluted Exxon Mobil site on the Eastern side of the Revere Beach Parkway and Route 16 is dead.
Questions have arisen – why? What happened?
The mayor has refused to answer calls for an explanation. Davis Companies was also not forthcoming about its pullout from the deal, which might have proven to be the most exotic, big money, commercial, industrial, retail and housing development in the state’s history.
Observers familiar with the negotiations between the city and Davis Companies have admitted that as of the second week of September, Davis Companies was ready to put their shovels into the ground to get this project underway, that is how certain company officials were of this proposed development.
When word came last week that Davis Companies had apparently declined to go through with the purchase of the land, many were left to wonder, what happened.
Did the city do something to queer the deal?
Did the city’s development department led by fail to meet the standard of knowledge and expertise the Davis Companies is used to with deals of this magnitude?
Was it because of the excessive cost mitigating the pollution problem was going to be?
This seems unlikely as Davis Companies had looked at this aspect of the development with a magnifying glass.
Davis head of development Michael Cantalupa did not respond to the Leader Herald’s request for a statement.
However, he sent an e-mail to the Boston Globe’s John Chesto. Chesto said that Cantalupa told him the company does not comment on ongoing commercial negotiations.