Although Wynn Resorts is currently facing a number of legal and regulatory hurdles regarding its $1.7-billion project for the construction of a casino resort in Everett, Massachusetts, the company is determined to proceed with its plan.
A spokesperson for the Las Vegas-based casino operator said that a number of businesses should be cleared out from the Charlton Place Small Business Center before the end of the month. Wynn Resorts purchased the commercial building in February, as it blocks a planned road to the main site of the casino property.
The gambling operator gave a total of 27 small companies, which run their businesses in the building in question, up until the end of June to move out. Then, it is to demolish the center so as to ensure that construction vehicles will be able to easily access the main casino site.
The company spokesperson said that no other buildings are to be razed to the ground. Furthermore, he explained that Wynn Resorts has not collected rent from any of the Charlton Place tenants since it purchased the center and that only four of them have moved to another location.
According to the spokesperson, PlanetTran, a limousine company, is the only tenant at the building that holds a formal lease. He said that the casino operator is currently negotiating with the aforementioned company to buy its lease, so as to be able to demolish the building before the end of the summer.
Chris Tkach, owner of the microbrewer Idle Hands Craft Ales LLC, one of the tenants that has not moved yet, commented that they are ready to find a new location for the company, but Wynn Resorts should have given them more time to relocate.
The casino operator said in a statement that it has been working closely with all tenants of the center and has negotiated matters such as “rent abatement, financial assistance of up to $10,000, and flexible relocation timelines.”
There were tenants that were glad to move. For instance, the owner of Marble and Polish Inc. said that his company got almost four months of free rent and the amount of $10,00 from Wynn Resorts to help it relocate to another place. In fact, the casino operator offered $10,000 to any of the companies at the center that moved before the end of June.
It seems that Wynn Resorts will probably manage to demolish the Charlton Place Small Business Center by the end of the summer. However, the company’s plans are to be delayed due to other hurdles. A parcel of land that Wynn Resorts needs in order for access to the casino to be provided is currently being stuck in escrow. The land in question was owned by the Massachusetts Bay Transportation Authority. It turned out that it was transferred to the casino operator improperly, as this happened before an environmental review was completed.
