NewburyportNews.com, Newburyport, MA

Local News

March 5, 2013

Condo plan breathes new life

Riverfront units to be built

AMESBURY — The Hatter’s Point Condominium Association has voted to revive Phase II of the Hatter’s Point Condominiums, which will open the door for developers to complete the revitalization of the old Merrimac Hat Factory that developer Bill Sullivan started more than a decade ago.

When the Hatter’s Point Condominiums were first conceived in the late 1990s, the plan was to convert the entire factory into luxury condo units overlooking the Merrimack River.

The first phase was completed in the mid-2000s, but after Sullivan’s death in 2008, the redevelopment process grinded to a halt and work never began on Phase II. About half of the huge complex was left in derelict condition, and remains so today.

According to Scott David of Tiger Property Services, who is helping field offers from prospective developers, the association had to wait until Sullivan’s development rights expired last summer before they could seek any other developers.

Once that happened, the association decided to revive Phase II and begin working toward an expansion that could nearly double the size of the Hatter’s Point Condominium complex.

“They’re sending out an offering memorandum to the developers who have shown interest,” David said.

Hatter’s Point is a 55-and-over community located on the banks of the Merrimack River at 60 Merrimac St. and currently consists of 44 condo units. David said the association’s goal is to completely redevelop what’s left of the old factory and add 36 to 40 new units to the complex, which is slightly less ambitious than Sullivan’s original plan.

At the time of his death, Sullivan’s plan consisted of 65 new units and an indoor parking garage. Given the building’s state of disrepair, the entire building was to be demolished with the exception of five exterior walls, which were to remain in order to preserve the historic exterior look of the building.

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