The Tremont Nail Factory, which has sat vacant for nearly 20 years and has seen many plans come and go, has yet another suitor.

In a Redevelopment Authority meeting held Thursday, March 13, town officials said two unnamed local businesses have approached them about expanding their operation into the steel building, which was used to manufacture nails as recently as 2006.

The town purchased the factory in 2004 using Community Preservation Act Funds. After the Tremont Nail Company moved out of Wareham, town officials began exploring options to repurpose and redevelop the factory into an asset for the town.

Select Board Chair Judith Whiteside said representatives toured the property and expressed "real interest."

The Tremont Nail factory, built in the early 1800s, contains five buildings in varying conditions. Currently, the steel building is being used as storage for Municipal Maintenance equipment.

In 2021, the town hired the construction firm, Bentley Companies to repurpose the entire factory.

Director of Planning and Community Development Ken Buckland, explained during Thursday's meeting that due to time restrictions, Bentley Companies has not started work.

Bentley Companies proposed utilizing the factory for: office space, housing, retail establishments and adding a brewery or restaurant. The firm’s vision also included a waterfront community park — complete with a pier, boardwalk and kayak rentals.

In 2020, Organa Brands, a cannabis manufacturing company was set to move into the steel building and invested $300,000 into repairs. The town planned to charge the company $184,000 a year in rent which would have paid for repairs to the other buildings at the factory.

However, the company could not get a license from the state's Cannabis Control Commission and never moved in.

The $300,000 repairs to the steel building were completed before the company backed out.

Later that same year, a different cannabis company, Aspen Blue, looked to move into the steel building but never did.

"This might serve as a partial victory in terms of redeveloping the Tremont Nail Factory," said Redevelopment Authority Chair Dan Butler.