HOLYOKE, Mass (WWLP) – The City of Holyoke is accepting proposals for the purchase and redevelopment of the five interconnected mill buildings on 1 Cabot Street. The properties contain approximately 200,000 square feet of finished building area with 9,072 square feet of basement space.
“This property has many great features, making it a perfect opportunity for development,” Holyoke Mayor Alex Morse said in a news release sent to 22News.
The City is looking for proposals with the highest and best use for the available space including prominent factors like commitment to maintain and improve the property, potential to stimulate private investment and creation of employment for residents. The City also wants the project to benefit the neighborhood and increase real estate property tax revenue to the City.
“With the City’s affordable energy and the building’s beneficial location next to the river and canals, I believe this building has the potential to spur economic activity and benefit the residents of the neighborhood,” Morse said.
The property at 1 Cabot Street has high ceilings and is ideal for industrial use or creative reuse for other commercial ventures. It is located between the Connecticut River and Holyoke’s third level canal with rail access and a prime location along route 116 with close proximity to I-391 and the Mass Pike.
All proposals must be received by 2 p.m. on Wednesday, May 31. Visit http://www.holyokeredevelopment.com/1-cabot for more information.