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Wynn Resorts has acquired another parcel across from its Encore Boston Harbor casino as Everett officials move forward with urban redevelopment plans for a “Destination District” on Lower Broadway.

A realty trust affiliated with Wynn Resorts paid $9.2 million for the 12 Dexter St. parcel, which spans nearly 0.9 acres.

The Everett City Council last week approved an updated Urban Renewal Plan for the Lower Broadway area, including Exelon Corp.’s 40-acre Mystic River station power plant which will be decommissioned in 2024.

Councilors approved the plan after removing three parcels on Mystic Street which currently contain a residential building and auto repair shops. Some councilors objected to the city being given eminent domain powers to acquire the three parcels that were removed from the urban renewal area.

A report by land use consultants Fort Point Assoc. lists potential future uses for the area including hotels, concert halls, marinas, retail space and sports facilities. The plan also needs approval from the state Department of Housing and Community Development.

Wynn Resorts has already assembled more than 13 acres of land and dilapidated buildings in the area, some of which it has converted into surface parking operated by the city of Everett. Wynn spokeswoman Rosie Salisbury declined to comment on the company’s future development plans in Everett.

The Dexter Street property contains an auto repair shop and surface parking. The seller was Joseph P. Marchese and Dexter Street Realty Trust, according to data compiled by The Warren Group, publisher of Banker & Tradesman.

Wynn Resorts Adds to Everett Development Parcels

by Steve Adams time to read: 1 min
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