New Salem power plant:Construction underway

As this Old Salem power plant falls as new one rises Marblehead Reporter article points out, construction is well underway on the new, quick and clean, gas-fired Salem power plant, which will occupy just 24 of the 65 acre site.

Two of the three smokestacks of the old coal plant are already down and the last – and highest at 480 feet – will be coming down shortly.

Source: Footprint Power

Source: Footprint Power

Dominick Pangallo, chief of staff to Salem Mayor Kim Driscoll, has said the remaining portion of the site, including a 25-acre waterfront, opens doors to generate further tax revenue – on top of the reportedly $95 million long-term tax agreement between the city and Footprint.

“The parcel, estimated at 25 acres, will be redeveloped at a later time, most likely for a commercial and/or industrial use,” he said. “ We certainly envision this revitalizing the power plant port for cruise ships and other visiting vessels.”

If you – or somebody you know – are considering buying or selling a home and have questions about the market and/or current home prices, feel free to contact me on 617.834.8205 or Andrew.Oliver@SothebysRealty.com.

Read Which broker should sell my house?

Andrew Oliver is a Realtor with Harborside Sotheby’s International Realty. Each Office Is Independently Owned and Operated

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