Meanwhile, the Maritime Administration, which is currently in control of the property, is reviewing proposals submitted by developers interested in the shipyard.
"The city of Quincy is eager to get its investment out," Quincy Mayor James A. Sheets tells GlobeSt.com. "From the outset we have supported a plan that benefits secured investors. If the MHI plan benefits them the most, we'll go with that. But if someone else comes along with a better plan, we'll support that." The city has invested about $7.5 million in the shipyard plan.
Former shipyard owner, Sotirios G. Emmanouil, whose firm has invested nearly five years in the $100-million project, heads MHI.
Want to continue reading?
Become a Free ALM Digital Reader.
Once you are an ALM Digital Member, you’ll receive:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
*May exclude premium content© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
