ROCKPORT, Maine — A buyer is close to purchasing the entire 45-lot waterfront Brewster Point subdivision to create a family estate, according to town officials.
Town Planner Jamie Francomano said that an attorney representing the unidentified party has contacted the town and plans to file an application with the Rockport Planning Board to dissolve the subdivision that was initially approved in December 2007. The application is expected to be filed by July 28 and heard by the board on Aug. 12.
Dissolving the subdivision will revert the 116 acres to a single parcel, the planner said. He said the attorney has informed the town that his client has the property under contract to buy.
“This is an extremely unique situation,” Francomano said about a subdivision being dissolved for a single person to own as a family estate.
The subdivision was approved by the town in December 2007 amid concerns by some neighbors that the project would create problems including traffic congestion. The property is off Warrenton Street and is adjacent to Clam Cove, less than a mile from the Samoset Resort.
The Brewster Point project gained approval as the real estate bust, associated with the Great Recession, started. None of the 45 lots sold but roads were constructed and sewer and utility lines were installed.
The property has been on the market for $8 million, but the town has it assessed for taxes at $30 million as 45 single waterfront lots. Town Assessor Kerry Leichtman said the assessment will be assessed significantly less next year if it becomes a single lot but that the specific amount will depend on several factors.
“Brewster Point offers an unprecedented opportunity for developers or investors to re-invent this 45-lot premium oceanfront development with renewed creativity and vision. Or create a private 116-acre oasis of rolling fields, woods, bold oceanfront and privacy for a family compound like no other,” the advertisement for the property on realtor.com stated.
Attorney Stephen Hanscom of Rockland said Friday he could not comment on who his client is or what the plan for the property is.