After 200 years of serving as the economic engine for the village and surrounding region, the abandoned Waterbury Felt Mill might see life once again. The old River Street wool mill, which once employed more than 300 people in Oriskany, has been deteriorating since it abruptly closed about a year ago.

The property was purchased in a September tax auction by businessman and developer James Kernan, an Oriskany native who plans to refurbish the approximately 500,000-square-foot facility into a modern industrial complex that architecturally complements the community he’s dubbing “Waterbury Square.”

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