High Bidder Identified in GSA Navy Hangar Auction

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By Julie McCay Turner

In her report to the Selectmen on Monday, February 25, Town Manager Sarah Stanton announced the official, awarded high bidder in the GSA auction for the decommissioned Navy hangar alongside Hartwell Road at the edge of Hanscom Field. The high bid for the 16-acre parcel reached $9,040,000 when the auction closed on February 1.

North Shore developer Charles Patsios is in the midst of the GSA’s 60-day process to finalize the acquisition. Patsios is also involved in the redevelopment of the former General Electric Gear Works site in Lynn, and the Lynn commuter rail site. After conversations with Patsios and others, Town Manager Stanton is “cautiously optimistic about the next steps ahead of us,” but notes that much work remains.

At the end of the meeting Selectman Mike Rosenberg said that knowing the bidder’s identity “does not change our earlier statement that we are looking at all the options that might be available to us in the context of that property following the Attorney General’s decision.” (http://bit.ly/2Tn5Y1w)