Town terminates Tremont Nail Factory development agreement

The town has terminated the development agreement of Bentley Companies to the redevelopment of the Tremont Nail Factory property after learning the developer may no longer be operating as a company.

The issue was discussed at the Thursday, May 14 Wareham Redevelopment Authority meeting. Planning Director Joshua Faherty said the town sent a termination letter to formally end the agreement and protect the property from any future claims tied to the original developer.

According to the authority, there had been no indication the developer intended to abandon the project. However, officials later became aware the company may have dissolved. 

The town said the termination letter was intended to ensure the potential new owner of Bentley Companies could not assume exclusive rights to redevelop the site.

Bentley Companies, a Rhode Island-based firm, was selected as the master developer for the Tremont Nail Factory property in 2021 after submitting plans for a mixed-use redevelopment featuring retail space, restaurants, office space, public waterfront access and possible residential units. 

The company was the only respondent to the town’s request for proposals process.

In 2022, Town Meeting approved a long-term lease allowing the Select Board to move forward with Bentley Companies as master developer for the property.

The proposed redevelopment included plans to preserve and repurpose many of the historic buildings on the waterfront site. Early concepts included a waterfront restaurant and event space, retail and office uses, a museum exhibit dedicated to the property’s industrial history, kayak rentals and a public boardwalk along the river.

The Tremont Nail Factory property has remained largely vacant since the town purchased it in 2004 using Community Preservation Act funds. The site, which dates back to the early 1800s, was once home to one of the nation’s oldest cut nail manufacturers.

Redevelopment Authority members said they hope to remain informed about future plans for the property in case the authority can assist with redevelopment efforts moving forward. No further comments were issued by the members.