Emmes Sells Housing Development

WINDHAM, NEW HAMPSHIRE-Emmes Capital sold a housing development in this town 30 miles north of Boston. The development, which sits on 560 acres of land, was sold to Eric Nickerson for $3.5 million.

The first phase of the development, which involved 46 housing lots, was completed last year and the houses were placed on the market last March with prices ranging from $400,000 to $700,000. The houses were all sold by the end of the year. According to a released statement, Nickerson approached Emmes with an offer to purchase the remaining 112 lots, which he will develop. The development’s previous owner declared bankruptcy after failing to develop the site.