Back at the end of last year, I heard from Joe Mullin (on the Board of CTP) that the bank that held the mortgage on Clock Tower Place was going to be selling that mortgage. It was unclear whether Wellesley Management would remain a partner.
As of Thursday, a new company called Saracen took over the Mill. This new group should have more capital and resources to put into it.
I got this message from Joe yesterday: "Thanks to one and all for the wonderful congrats on my latest "Friday the 13th" Birthday—just two snowy blizzard days ago! As it turns out my B'Day was also my last day at the Maynard Mill, a/k/a Clock Tower Place—in my hometown of Maynard, MA—after 18 terrific years. On to the next horizon—"management consulting", with my new sole proprietorship company, Commonwealth Consulting Service, Inc". "CCSI!"
Joe is a good guy, and we wish him well. Let's hope that this new change at CTP is a win-win, both for the new management company, and the town/citizens of Maynard.