For 31 years, the large brick Bulova watchcase factory has sat empty on a two-acre site a block off Main Street, a graffiti-sprayed monument to the industrial era, which followed the whaling industry as the economic engine of this waterside village. Now, plans are underway to restore the location, according to a story in the New York Times.

The last time the building came close to resurrection was in 2008, when a Manhattan company called Cape Advisors was granted zoning and planning board approval to transform it into 65 luxury condominiums. But the financial crisis effectively shelved those plans. It wasn’t until last November that Cape Advisors - along with Deutsche Bank, its new partner on the project - began to move ahead in earnest, and crumbling parts of the timber and masonry were torn down. In December, after asbestos was removed and other contaminants were cleaned up, the state ruled that the site was “safe for residential use.”

See the complete story in the New York Times by clicking here.