The final large oil tank has been removed from the 105-acre former ExxonMobil property in Everett, Massachusetts, marking a significant milestone in the redevelopment of the site. The clearance of the tanks opens up the area for future construction and development opportunities.
The property, which was acquired by Davis Cos. in 2023 for $72.5 million, is slated to include 5 million square feet of mixed-use space. This transformation represents one of the region’s most substantial redevelopment projects, with plans to convert the former industrial site into a vibrant new district.
The removal of the tanks eliminates a longstanding visual barrier and environmental concern, allowing for the next phase of planning and site preparation. While new construction is not expected to begin immediately, the cleared land now offers developers and city planners a blank canvas for future projects.
The Everett site’s redevelopment is anticipated to bring significant commercial and residential opportunities to the area, leveraging its size and strategic location. The project reflects ongoing trends in Greater Boston, where former industrial properties are being repurposed for modern mixed-use developments.
Davis Cos.’ acquisition and the subsequent site clearance underscore continued investment interest in the region’s real estate market. The company’s plans for 5 million square feet of mixed-use space signal a major shift for the Everett waterfront and its surrounding communities.
