Fifteen years after the state gave the property at 6 Commerce Road to the town for sale as commercial development, the town has finally sold eight acres of the land for senior housing.

The Board of Selectmen approved the sale of 14 acres of town-owned property at 6 Commerce Drive at its August 16 meeting.

The property was purchased for $3.1 million by Teton Capital Company, LLC, of Old Greenwich, to build up to 170 apartment units for senior housing. First Selectman Dan Rosenthal said that only approximately eight acres of the 14 acres will be developed.

The entire property at the location is 41 acres, with the other 27 acres being preserved by the town as open space. The property is located next to the 34-acre Catherine Violet Hubbard Animal Sanctuary property, so having the open space on the property adjacent, and only 8 acres of the property being developed, is “maximum value for minimum disturbance,” stated Rosenthal.

“It’s complementary with the Hubbard Sanctuary,” Rosenthal said. “This is a win on a number of levels.”

The sale of the property has been a long road for the town. Rosenthal said that the town’s acquisition of the property from the state “predates me by at least a decade” and has been “on a loop for years.” The town approved the property for sale in 2006.

The Economic Development Commission was the agency given authority to sell the property, and according to EDC Chair Wes Thompson, while there has been interest on and off, it was dampened by the lack of a driveway onto the property — a project that Rosenthal said could have cost the town $1.2 million to construct. The town was unwilling to do so.

“Imagine the town building a road to nowhere,” said Rosenthal.

Additionally, any sale required Connecticut Department of Energy and Environmental Protection approval, as there were “wetlands to traverse.” DEEP approval was gained in 2019, which opened the door to the driveway being built.

“That was the catalyst,” said Rosenthal.

When the Hubbard Sanctuary began work on a drive into the area, linking Commerce Road to its own property at 3 Old Farm Road, Thompson said that piqued Teton owner William Donohue’s interest. Donohue contacted the Hubbard Sanctuary trustees to talk to them about what he wanted to do with the neighboring property before putting in an offer to the town.

“It was a great thing Bill did,” said Thompson. “That’s the type of guy he is, a thoughtful person.”

Thompson said the sale is a “match made in heaven” and that the town was “getting a good price on a property we thought we’d be lucky to break even on.” He said that at times, the town had even considered giving the property away.

Thompson said that Donohue would be constructing “upscale senior housing apartments.”

“This is the highest and best use for this property,” said Thompson. “We’ve been trying to sell this property for 15 years with minimal success. We’re lucky [Donohue] heard about this property and we’re lucky he loves Newtown.”

Donohue stated that it had been “a process to get to this point” and there was “a lot of work left to do.”

“I’m really excited to get started now that the agreement has been executed,” Donohue said.

His next step is to submit applications for the Planning & Zoning Commission for map and text amendments.

“I need to get the property zoned properly for its intended use,” said Donohue. “I’m anxious to get started.”

Thompson said the sale has turned a “non-producing town asset” into something the town will gain some revenue from.

“Not only does the town get the revenue from the sale of the property, but there will be tax revenue on the property in the future,” said Thompson. “This is a good thing for the town.”

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Reporter Jim Taylor can be reached at jim@thebee.com.