"There wasn't great shock," Kenneth Tavares, chairman of the board of selectman, tells GlobeSt.com. "The plan wasn't something that anyone in the community was excited about and they were certainly being told that in a variety of ways."

Makepeace's proposal had involved residential, commercial and retail uses. It was met with fierce local opposition and it seemed clear that at the upcoming town meetings the plan was going to be rejected. The company's spokesperson did not return calls by presstime, but in a released statement says that while the company "would prefer to pursue a master planned development it is clear that our vision would not be supported at the Town Meeting."

It is unclear what Makepeace has planned for its land now. In a statement sent to selectmen in the three towns, Makepeace vice president John Drew says, ''Given the towns' level of unease with our proposed master-planned community and the economic realities facing our industry, the company will reevaluate its options, including the development of its property under existing zoning regulations.'' Under current zoning limits, the company could build more than 1,700 homes on its land. Local environmental groups are reportedly still trying to put together an offer to purchase the land. A tri-town task force had been formed to work with Makepeace and that group will most likely continue to negotiate with the company on the towns' behalf.

Continue Reading for Free

Register and gain access to:

  • Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.