The New Canaan Board of Selectmen voted unanimously to purchase a 0.15-acre downtown property for about $1 million.
According to a report in the NewCanaanite.com blog, the acquisition of 28 Grove St. will require the approval of the Board of Finance and Town Council before it can move forward.
First Selectman Kevin Moynihan referred to the property, which included a house built in 1900, as “a strategic property.”
“The idea here is to acquire this property and maintain it as a rental property with the idea conceivably in the future it”™s going to be a key part of any redevelopment of the Lumberyard parking lot,” said Moynihan.
Moynihan did not offer specific plans for the property, but hinted “there have been discussions with folks” over its possible future in connection to the adjacent Lumberyard. The house is currently occupied by a renting tenant and Moynihan stated it would need “some level of repairs.”
“We have been keeping our eye on this house for many years and it”™s the only property that would give another access point to that property and we believe we can acquire it and do some level of improvements to allow it to be used as a rental property and cover the cost of carry,” he said, adding there was “also a possibility there are businesses around it that are interested in using the property for parking. We will look at the highest and best use for the property as a rental property.”
Photo courtesy of Redfin
