Development firms Hilco Global and Redgate Partners have closed on the purchase of Exelon Corp.’s New Boston Generating Station for $24.25 million. Located in South Boston at the corner of Summer and First streets, the complex sits on a 18 acre waterfront site. Hilco Global, which specializes in redeveloping industrial sites, stated that no plans for the facility have been determined. Local real estate experts predict the site will likely be turned into a mixed-use housing and office project, using parts of the century-old complex. The seller chose Colliers International to run an auction earlier this year which attracted at least a half-dozen bids from developers.
