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Land Resources / News / Massachusetts

Bank auctioning off Hanover land

Source: boston.com, by Michele Morgan Bolton
September 26, 2011
Two parcels of land that were part of an ambitious, 100-plus-acre mixed-use development plan along Washington Street are slated to be sold at auction this morning, the victims of a harsh economic downturn that quashed the dream of its developers and landed them in foreclosure.

More than half of the land owned by a subsidiary of the Norwell-based Witsop Development Group has been put up for sale by South Shore Savings Bank.

The sale, which was originally planned for May, was again postponed in July after the owners filed for bankruptcy protection. On Friday, auctioneer Daniel McLaughlin, whose Boston-based firm is handling the sale for the bank, said the parcels went back on the books for auction today after the bankruptcy claim was dismissed in court.

Read the complete article from boston.com »

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