NEW BEDFORD, Mass. (WJAR) -- A large acre of land that faces Bedford Street in New Bedford was once home to huge economic growth for the city.

"It was once the Morse Cutting Tool property, they made drill bits and were in business from the mid 1800's to the late 1900's," said Michele Paul, the Director of Resilience and Environmental Stewardship for New Bedford.

After operations ended, the building became vacant, and the site turned into a brownfield, leaving behind possible contamination. Now work is starting to bring the historical importance of the area back in a new way.

However, community and city leaders have different vision for what they see for the development.

"It is city property, but the city wants to do something that makes sense to the community and that the community supports," said Paul. " I know there is a real desire to see community space and community programming, and open space, and we really want to respect."

Leaders hope for it to come back as another way for more tax income to enter into the city, and a chance for job opportunities, but the area sits in a neighborhood that has been around for centuries and full of families that have been around for generations.

Some are afraid this could bring in gentrification and instead just want the 800,000 project to be used as a park or an open space.

Currently, no decisions have been made, and all ideas are still being discussed.

Leaders hope the city and the community can come together to find something that benefits the needs and the community's wants.

"We're not discussing things within city hall, we're discussing things with the community," Paul said.

People can follow the timeline of the project or learn more about the history of Morse Cutting Tool property here.