PEABODY — The city has received what it hopes is the last piece of the fiscal puzzle needed to convert a polluted patch of downtown property into a beautiful park.
MassDevelopment has awarded Peabody $497,000 from its Brownfield Redevelopment Fund to assist with cleanup at the proposed park at 45 Walnut St. This money will be used to remove contaminated soil, cap the site with a geotextile layer and put down clean fill.
The city has cobbled together various funding sources to pay for the roughly $1.5 million project, including $549,000 from the state and $240,000 from the Environmental Protection Agency. In September, the City Council approved spending $265,000 for the project from the community preservation fund, collected with a 1 percent surcharge on property taxes.
The city purchased the property near the intersection of Wallis Street in 2009 for $115,000, with the intent of converting it into a park.
"For years, it has been an empty lot and an eyesore," Mayor Michael Bonfanti said. "There's not a lot of money, but we try to pick some spots that will have an impact."
City officials have estimated that more than $800,000 will be spent on design, permitting and construction, while the rest will go toward cleanup.
The proposed park is on the site of a former leather tannery. It has been vacant for more than 20 years.
The park fits into a wider plan to reimagine the entire downtown, making it a more attractive place to live and visit, and a more inviting place for business. City officials are going forward with an $18 million project to prevent downtown flooding, as well as a $1.5 million redesign of Main Street, to reduce the number of lanes and make it more pedestrian-friendly.
The park project has faced many challenges because it is both in a flood zone and is contaminated. It's also an indicator of the challenges ahead if the city expects more development near the river, such as the river walk city officials have discussed for years, the mayor said.
"The conditions the city encountered at 45 Walnut St. will more than likely exist throughout the North River corridor in future endeavors," Bonfanti said. "However, it is imperative that these properties be addressed and brought to their best use. The revitalization of Peabody Square depends on it."
The hope is for the park to be completed by the summer of 2013.
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