From Sale to OceanView

From Sale to OceanView, Falmouth Buys ‘Hundred Acre Woods’

In January 2012, the Falmouth town council unanimously voted to sell the former Plummer-Motz and Lunt elementary school complex for $3.25 million to OceanView at Falmouth to add twenty abutting acres to the existing 60 acre retirement community campus.

The 5-10 year, $25 million project will add more than 60 homes to the OceanView community, including independent cottages and luxury apartments, complementing our “smart-growth” model. It will also increase our annual tax bill to the town by $323,000 (the largest in Falmouth), and will benefit Falmouth residents through a public/private partnership to potentially establish a community recreation center, new library and a variety of other public amenities.

A major benefit of this acquisition is the required replacement of an existing conservation land parcel on the existing ‘school property.’ Due to a federal conservation land restriction, the town has to obtain and dedicate other land before the sale to OceanView can be completed. The Town Council has unanimously agreed to buy 133 acres of land on Blackstrap Road for $1.16 million, which has an appraised value of $1.2 million. The land, known as Hundred Acre Woods, is almost ten times larger than the conservation acreage it is replacing. The sale essentially provides the town with an excellent opportunity to swap the conservation requirement and preserve a much larger piece of land.

Town officials hope to complete the sale of the school complex by December and OceanView plans to start redevelopment in January 2013, igniting an exciting period of growth for us over the next several years. With the new Blueberry Commons luxury apartments already planned and being pre-marketed, the upcoming Memory Care Residence, Southern Maine Agency on Aging Memory Day Care, Medical Arts Building/Offices, and the new Schoolhouse Cottages, we have a lot to look forward to.

If you are interested in any of these new projects, please let our Director of Sales and Marketing, Gloria Walker, know. We have already started a Waiting List ,which we would love to add you to, so you can be the first to receive the most up-to-date information as soon as it becomes available!