Boston-based Leggat McCall Properties has acquired the former Atlantic Gelatin property, a 107-acre parcel bordering I-93 that’s been positioned for a large redevelopment including multifamily housing, office and retail space and a hotel.

The purchase price was $1 million, according to Middlesex County Registry of Deeds. Owner Kraft Heinz Foods Co. put the property spanning portions of Woburn, Winchester and Stoneham on the market in late 2015 after it decommissioned the 400,000-square-foot food ingredient factory, located on Hill Street in Woburn.

Leggat McCall had a purchase-and-sale agreement in 2016 but backed out of the deal, citing environmental and permitting issues.

“We’ve always had an interest and have been working on it for two years now, but it’s been a long slow process,” said William Gause, executive vice president at Leggat McCall. “Having discovered more of the complexities, we had to revisit the purchase price. The price has declined substantially, but we have assumed the responsibilities for cleaning up the site and demolition of the buildings.”

Woburn city councilors in 2016 approved an overlay district designed to encourage mixed-use redevelopment including office and retail space, up to 300 multifamily housing units, hotels and manufacturing. Approximately 57 acres are located in the city, and Woburn Mayor Scott Galvin has described its economic development potential as a “once-in-a-lifetime” opportunity.

A dozen hazardous waste sites are located on the property, according to state Department of Environmental Protection records. Leggat McCall agreed not to sue Kraft Heinz Foods for damages related to hazardous materials or environmental conditions, according to an agreement filed with the Registry of Deeds.

Newmark Knight Frank’s Justin Smith and Torin Taylor represented the sellers. Leggat McCall has hired architects Stantec to draw up a master plan, Gause said.