The Golden Triangle land is owned by a series of partnerships primarily managed by Herb Sears, who has spent the past year or so finalizing the necessary permits needed to make the land as attractive to buyers as possible.
As of now, the hotel and retail sites are fully permitted. If a buyer was to come forward, construction could potentially begin shortly afterward. Some of the 50-acre parcel’s permitting has also been done, but additional permitting would need to be worked out once a buyer with a particular use steps forward, Stallkamp said.
Originally, the Golden Triangle was viewed as a prime piece of real estate that would attract some of the high-tech firms that were setting up shop in Massachusetts and bring thousands of dollars of revenue into the city.
Fahey said the expectation three decades ago was that the boom would eventually reach Amesbury after it worked its way along Routes 128 and 93 and then I-495. In anticipation, the city zoned the area especially for high-tech businesses, but none ever came.
Over the past decade, the city has worked to modify its zoning to expand the potential uses of the area. Some proposals had gained some steam before petering out. A recent example came in July 2011, when, in the middle of the permitting process, Archgrove Realty abandoned plans to build a hotel at 284 Elm St.
As the economy has improved, the potential for development has increased, but Stallkamp emphasized that no sales are imminent and each prospective buyer is still working to figure out if the Golden Triangle is right for them.
“A lot of that comes to the economy, since a lot of these interested parties are trying to figure out where they want to be in the next five to 10 years,” Stallkamp said. “As the economy improves, this parcel will come up on many businesses’ radar. There aren’t a lot of large parcels like it available.”