Our planned development on Lower Broadway, and the broad planning of the Lower Broadway District by the City of Everett,” said Wynn spokesman Michael Weaver. “Our goal for the purchase is to ensure that future development in the area is synergistic with our existing investment at Encore Boston Harbor. It is not without its difficulties, however, Wynn has shown the ability to take the 33-acre site the casino sits on, one of the worst polluted sites in Massachusetts, and to turn it into a totally remediated lush, green wonderland with imposing modern structures built on the site. ![]() Last Tuesday, the owner of the former generating station and the land it sits on, Constellation Energy completed the sale of the 45-acre property that fronts the Mystic River.įor Wynn Resorts and Encore, it is brilliant buy despite the pollution plaguing the property and the cost for taking down the power plant and remediating the pollution.Īt $25 million, the cost per acre for the acquisition of the property was less than $500,000 per acre.Ĭonsidering an acre in Everett today can fetch as much as $3 million to $5 million, Wynn Resorts has made a solid investment. ![]() The Mystic Generating Station across from the Encore Boston Harbor has been sold.
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