The old Hockanum Mill officially has a new owner.
Area computer executive Ken Kaplan closed on the West Main Street property Friday, Vernon Economic Development Coordinator Shaun Gately said on Sunday. Kaplan had acquired the tax lien on the old textile factory several months ago. Gately did not disclose the official purchase price.
He had formed a holding company - Kaplan Mill Works LLC - for the acquisition.
His plan is to develop 100,000 square feet of new commercial space while attempting to preserve the character of the old mill. His target was to initially open up a tech center measuring up to 35,000 square feet and then develop outbuildings to house businesses both independent and some he has an interest in.
The closing comes on the heels of an announcement two weeks ago by state and local officials that Kaplan Mill Works LLC is in line to receive a $2 million loan from the state Department of Economic and Community Development's Brownfield Development Fund.
Gately said Kaplan was to begin cleaning up the property on Sunday. That is what the loan targets.
The footprint of the campus will not change Gately said. But the land itself needs extensive work. The factory, one a giant in the woolen products industry, dates back to the Civil War era.
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