Director of Planning & Community Development Ken Buckland told Selectmen redeveloping the Tremont Nail Factory is a priority for the state as one agency with a track record of success takes a special interest in the project.

On Tuesday, Buckland spoke at a public hearing originally scheduled for gathering comment on a grant from the Southeastern Regional Planning and Economic Development District (SRPEDD) for studying the site’s economic feasibility. However, the regional planning agency’s plan was superseded by a $50,000 grant awarded by MassDevelopment, a state agency.

“Instead of going through SRPEDD, which was the purpose of this hearing, we have an agreement with MassDevelopment to proceed with the process and implementation of the study,” Buckland explained.

The Tremont Nail Company, which since 1819 had manufactured cut nails and other products, sold the 7.2-acre site to the Town of Wareham in 2004. The site was purchased using Community Preservation Act funds. The Community Preservation Act is a Massachusetts law that allows participating cities and towns to adopt a real estate tax surcharge, supplemented by state matching funds in order to fund historic preservation, affordable housing, open space, and outdoor recreation projects.

Town Administrator Derek Sullivan said MassDevelopment’s interest in the site was encouraging following the agency’s success with Fort Devens, a former military base in central Massachusetts turned thriving community.

“They’ve taken what some considered a hopeless situation and turned it into revenue for a community,” said Sullivan.

Selectman Peter Teitelbaum, who was initially skeptical of purchasing the Tremont Nail site, agreed.

“This is not just a study that will occur in a vacuum or sit on a shelf,” said Teitelbaum. “This is a chance to make a purse out of sow’s ear, and it’s very interesting.”

Moving forward, Buckland said business owners and residents are invited to offer their suggestions for what should happen at the site during a public meeting scheduled for Feb. 9 in Town Hall, time to be determined.

Selectmen Chair Judith Whiteside said the site’s potential is promising for Wareham.

“The town contains a lot of buildings that predate the country, historic buildings,” said Whiteside. “We have an opportunity to showcase history.”