LOGAN — Dongming Pan, a Chinese-born developer and entrepreneur from New York, is now the owner of the both the old Logan Banner building on Stratton Street and the former printing press building on Charles Street.
Pan was introduced at the Logan City Council’s Sept. 14 session, alongside Bo Ellis, the realtor who was in charge of selling the properties.
Pan discussed some of his ideas for the buildings, which includes renovating them for manufacturing purposes.
According to Logan Mayor Serafino Nolletti, Pan outlined some of his plans to city officials upon buying the buildings.
“He’s got some big plans,” Nolletti said. “He’s going to take baby steps, but hopefully when he’s up and running, hopefully 50 people will be employed there. It will be good paying jobs, probably $40,000-plus a year, he told us.”
Nolletti said Pan’s business plans include manufacturing textiles, T-shirts, pillows, possibly mattresses and possibly jeans.
“He brought some samples of some jeans he manufactures at some of his other locations,” Nolletti said. “As a matter of fact, I think he’s on his way to Italy right now. He loves Logan, too. He fell in love with our little town here, too, and this is just huge to have those two buildings occupied again with people working inside. It could be a big boost to Logan.”
Ellis revealed at the meeting that Pan was able to buy the buildings for around $60,000. They were originally on sale for $300,000.
Pan will begin moving in equipment to the buildings soon after the power is restored to them.
Pan said the first digital T-shirt printing machine is already on its way from China to Logan.
Pan also said the buildings will require extensive renovations, but noted that the roofs are in good shape.