METHUEN — The city will not recoup its investment if officials agree to a bid from a local contractor to buy the Searles Estate.
In bidding documents, the Aulson Co. Inc. lays out a vision for public spaces, art studios, areas for livestock and business incubators as well as various other amenities across every corner of the 18-acre property.
However, the company is only offering a purchase price of $1,000, considering the millions it will cost to renovate the estate for public use.
Aulson Co. CEO Alan Aulson said in an interviews the potential venture is his “passion project.” But the city’s asking price of $4 million for the aging estate is just not realistic.
In an effort to save the property from ruin, the city bought the property for $3.25 million in 2024.
After a months-long bidding period, announced Monday that the Aulson Co. was the only bidder for the property. The company has experience on renovation projects including on the U.S. Capitol dome. A large portion of bidding documents describe past projects by the firm.
The company also announced the Spencer Preservation Group, a Nahant-based architectural firm, would be a partner on the project.
Aulson said he and his company have spent thousands of dollars and a significant amount of time trying to make the project possible.
The various conditions laid out by the city were at times “onerous,” he said.
Ultimately the company arrived at a proposal that, despite offering little or no immediate financial incentive for the city, would lay the groundwork for a revitalization effort to turn the estate into a community hub as well as tourist destination, Alan Aulson said.
He said he was excited by the possibility of working on the estate from its “gorgeous fireplaces” to “beautiful floors.”
“That’s the stuff that really gets my juices flowing,” Aulson said. “We love historic stuff.”
A proposal to make use of the land and a barn for livestock was among his favorite ideas.
In bidding documents, the company asks for a tax break to complete what will be a multi-year renovation project. The firm agrees to spend at least $2.5 million over a decade on the estate, though the actual spending will likely be far more.
Mayor D.J. Beauregard acknowledged the low price in a statement on the bidding results.
“As we unpack the proposal, it’s clear that the purchase price and current RFP terms established by the prior City Council don’t fully reflect the realities of the market,” Beauregard said. “Some may argue the city should prioritize selling the Searles Estate for maximum financial return. I do not share that shortsighted view.
“Every dollar spent by a qualified partner on acquiring the estate is a dollar not available to cover the hefty costs associated with the restoration, preservation, and adaptive reuse of the property, which is my ultimate objective,” he said.
In the bid, the firm said it hopes to make the estate as welcoming as possible.
“Public access to the grounds remains a core goal of the project,” the company, with offices at 49 Danton Drive, said in documents.
While the city bought the estate from the Sisters of the Presentation of Mary in 2024, officials have been searching for a partner to preserve it, afford the costly upkeep and allow some level of public access.
There are roughly a dozen buildings on the property including a 74-room mansion. The historic estate was built during the turn of the 19th and 20th century by wealthy interior designer Edward F. Searles.
The bid outlines a project that focuses on getting people onto the estate grounds. The company proposes that the estate hosts artist lofts, studios, live-in workspaces and small businesses incubator units.
The estate could also host charity events, art exhibitions, cultural programs and other community activities.
Projects completed by Aulson Co. include an $8 million contract for the renovation of the U.S. Capitol building and a roughly $500,000 abatement project at the Wachusett Dam, according to the contractor’s website.
The company’s typical services include roofing, carpentry, restoration, abatement, hazardous paint removal, painting, industrial flooring and protective coating services.
The firm’s plan outlines the potential to sell the Provincial House for $1.5 million to fund renovations elsewhere on the property. The contractor also proposes to demolish the Notre Dame building to create additional space and parking.
Aulson Co. also proposed that some spaces on the property could be rented back to the city after the sale. The rent would be used for painting the building and grounds.
The city’s purchase of the estate also included more than $1 million in artifacts and artwork.
The city has spent about $3.7 million on the property taking into account the purchase price, according to a Jan. 8 financial report. Bids had been accepted since September.
The developer will be asking for a Tax Increment Financing (TIF) Agreement for the first five years, as well as a waiving of fees for permits and changes to zoning.
“The adaptive reuse will require a lot of help from the city,” the contractor wrote in documents.
Beauregard said officials will make sure city plans match with the realities of the market while still creating a restoration project that will be a long-term economic benefit to the city.
“We will continue this deliberate, careful approach to make sure that the Searles Estate is not only preserved but thoughtfully reimagined in a way that benefits Methuen for generations to come,” he said.
To view the full bid visit: methuen.gov/850/Searles-Estate