It appears that the reason the property was sold is because it was not financially feasible to operate it as a summer camp. There are many other summer camps on the lake and maybe the law of supply and demand contributed to the downfall.
One upside that has not been mentioned is that if this property is developed as planned that town will realize a significant increase in taxable value and therefore tax revenue when it is completed. And, not to generalize, but when people purchase the higher cost homes often they are beyond their child raising years so the occupants of these properties will likely contribute substantially to the town's finances while being a minimal burden on town services.
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