Attorney Rick Land, appointed by the state to find a buyer for the mill after its owner, MMF Realty Co., went into receivership earlier this year, said he’ll soon start a national advertising campaign to find an owner.
Since he was appointed receiver earlier this summer, Mr. Land said he’s received some interest in the property. Listing the property in regional and national newspapers, he said, should help bring in potential buyers.
“That will happen over the next few weeks,” he said.
Whoever ends up bidding on the property may get some help from the town. Warren officials have told Mr. Land that the town is interested in tax increment financing for the property, under which the future owner would provide amenities to the town in return for tax credits. Those amenities, the bid package reads, could include a walking path along the waterfront, sewer line upgrades or a park along the property’s southern edge.
“With over 1,300 linear feet of waterfront, coupled with its proximity to Warren’s town center and the center of Barrington, the property is prime real estate ripe for redevelopment into an upscale, modern commercial and residential community,” the bid package reads.
All told, the mill property covers 14 acres and includes nearly half a million square feet of mill floor space.