An 18-acre stretch of Chelsea waterfront that has a long industrial history is now at the center of a fight before Massachusetts’ highest court, pitting a stalled developer against a conservation group trying to turn the site into a public nature preserve. Developer Jianfeng “Ken” He is challenging a court-approved receiver’s decision to sell the land to Mass Audubon for $8.36 million, arguing the sale shortchanged him and violated his rights as the property owner.
The case, Shanghai Commercial Bank Limited v. YIHE Forbes, LLC, was argued before the Massachusetts Supreme Judicial Court on September 9, 2026, according to official court identification confirmed by Mass.gov. As reported by The Boston Globe, the appeal concerns the receiver’s sale of the site and the developer’s challenge to that transaction.
At the heart of the dispute is a wide gap between numbers. The Forbes property carried an assessed value of $20 million, and potential bidders reportedly offered between $13 million and $20 million for the site, per the Globe's reporting. Hogan ultimately sold it to Mass Audubon for $8.36 million — a fraction of what He says the land was worth.
How a Historic Printing Plant Became a Public Hazard
The site's roots run deep. The property has a long industrial past. Earlier redevelopment efforts did not come to fruition.
The property has been the subject of redevelopment efforts that did not come to fruition, according to the Globe.
Fire, Foreclosure Fights, and a Receiver Steps In
The property entered receivership at Chelsea’s request in late 2024, according to court records reviewed by Justia Law. A nine-alarm fire also tore through the site, forcing the temporary closure of an adjacent commuter rail line, per the Globe.
Weeks earlier, in August 2024, the Chelsea Board of Health had already determined the property was unfit for human habitation and posed a nuisance and risk of accident to the public. The city declared it a public health and safety hazard, and Suffolk Superior Court approved the appointment of a receiver, according to the Berkshire Regional Planning Commission. Hogan was appointed receiver and tasked with making the property safe and finding a buyer.
He challenged the receiver’s actions, per the Globe. The sale was contested, and the parties disputed whether the receiver had breached her fiduciary duties.
Bankruptcy Detour Before the State's Highest Court
Before escalating to the SJC, He tried a different venue. In a federal bankruptcy proceeding, a court affirmed the bankruptcy court’s granting of the city’s relief-from-stay motion and denial of YiHe’s turnover request, according to Justia Law. The Massachusetts Supreme Judicial Court is now considering whether He’s rights as an owner were violated and whether the sale can be unwound.
The receivership’s fiduciary duties were also at issue. Mass Audubon, which had completed the transaction by April 2026, has opposed unwinding the sale, arguing it was the fastest and most reliable way to eliminate ongoing public safety risks at the site.
What Chelsea Stands to Gain — and Why the Land Matters
For Chelsea, the financial stakes are concrete. City Manager Fidel Maltez confirmed in an April 2026 letter to the city council that the $8.36 million sale allows the city to recover more than $1 million in delinquent property taxes and municipal liens while fully reimbursing funds it spent supporting the receivership, according to the Winthrop Transcript.
The land itself carries outsized weight in a city starved for green space. The acquisition would add substantial open space to the city and is being described as transformative.
Mass Audubon is working with GreenRoots and The Neighborhood Developers on the site's future, which envisions a public park and nature preserve alongside affordable housing. Plans for the project include affordable housing. State officials and lawmakers have also been involved in the project, according to a Mass Audubon announcement.
A $68 Million Vision, With Fundraising Still Underway
Mass Audubon is still raising funds for the full project, the Globe reports. The project’s funding includes private funds, state and federal funding, and grants.
The project remains in its early stages. Whether the timeline holds may now depend on the Supreme Judicial Court, which will determine if the $8.36 million sale stands or if He's challenge forces the transaction to be reconsidered.
