Aquarion Water Co. has filed an application with the Connecticut Public Utilities Regulatory Authority (PURA) for permission to sell 72.27 acres of company-owned land on Lake Avenue in Greenwich to the town of Greenwich and Greenwich Land Trust.
Aquarion, which is headquartered in Bridgeport, said the land is no longer needed by the utility to provide water service because it is not within an aquifer protection area or any public water supply watersheds.
In addition to the 72.27 acres of land to be designated open space, Aquarion is proposing to subdivide and sell two, 4-acre single family residential building lots. The subdivision plan will be submitted to the town Planning and Zoning Commission and Inland Wetlands and Watercourses Agency for their approvals.
“Aquarion is pleased to have the opportunity to ensure the long-term preservation of this land,” Aquarion President Donald Morrissey said. “We believe deeply in our mission as stewards of our natural resources and are proud to partner with the town of Greenwich and Greenwich Land Trust as they work to preserve vital open space in the community.”
“This is a prime example of what we can accomplish with public-private partnerships,” Greenwich First Selectman Fred Camillo said. “We are very pleased with the value we are getting for our investment in this parcel and equally pleased to protect a targeted open space parcel for the enjoyment of current and future generations of Greenwich residents.”
Aquarion plans to reinvest the $2 million proceeds from the sale of the land into capital improvements to its water infrastructure. The sale of the open space land to the town and Greenwich Land Trust and the proposed residential building lots are both subject to PURA approval.
“Conserving an open space parcel of this size is critical to enhancing existing greenways,” land trust Executive Director Will Kies said. “This preserve will complement the land trust”™s existing preserves by offering public access to a beautiful hardwood forest along Converse Pond Brook and providing important habitat protection.”
Aquarion expects to complete the land sale this summer.
