Quote:
Originally Posted by WinnisquamZ
Keep in mind the new Condos on paugus bay are selling for well over 800k and only share a day dock
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Big difference is the Paugus Bay townhouses are a good size. If the Sandy Point units have to be built on the original footprints, they will be a lot smaller. There may only be 36 units planned, but if they are year round and occupied longer, the septic may have to be totally redesigned and enlarged. Right now Sandy Point is really only busy on the weekends. Most of the leasees work during the week and use the camps for vacations and weekends. The Paugus Bay units have city water & sewers. Sandy Point has 1940's era septic and seasonal town water. The cottages are not insulated and have 1940's wiring as well. I would think besides the cost to buy, another $5M would be needed to improve the property. That is provided the town and DES allow what the developer has planned.