The town of Arlington might take ownership of the former Symmes hospital site through eminent domain after a developer that was eliminated from the bidding process purchased the mortgage note for the property.

This week, Banker & Tradesman reported that the Jefferson Apartment Group (JAG), which was dropped by the town as a potential developer, purchased the mortgage from lender PNC Bank, tossing a new wrench into what has been a development rollercoaster ride since the project was conceived a decade ago.

Now, town officials have announced they are considering taking the property by eminent domain, according to reports. In July, the Redevelopment Board chose Dedham-based Upton & Partners as the preferred developer for the Symmes hospital redevelopment.

By taking it through eminent domain, the town would only be required to pay the current market value of the property, which has dropped since the site has sat vacant and since the hospital closed more than 10 years ago and the buildings bulldozed in 2008. Town officials said they are hopeful Upton & Partners will reach an agreement to buy the site from JAG, or develop the site in partnership.

The firm is prepared to sell the property to the town, or to another company, but still hopes to develop the 18-acre property, according to new reports. Purchasing the property would cost in excess of $13 million, according to a JAG spokesperson.