First Town-Owned Queen St. House Will Be Auctioned In Nov.
First Town-Owned Queen St. House Will Be Auctioned In Nov.
By Steve Bigham
The town-owned house at 31 Queen Street will be sold at a public auction on a Saturday in November. A date and time has still not been announced.
The Board of Selectmen voted in favor of selling the home at its meeting Monday night. There are 10 other properties along Queen Street that the town also plans to sell next spring during the housing marketâs peak season.
âWe want to start with the first house and see how it goes. That will help us determine if thereâs a ready market out there or whether we have to do a lot of advertising and marketing to get them sold,â explained First Selectman Herb Rosenthal. âThis will give us at least some sense.â
The house to be sold in November is the northernmost of the town-owned properties along Queen Street. The town plans to set a minimum price to ensure that it does not lose money on the deal.
Residents approved the sale of the Queen Street properties in August.
The town purchased the homes from the state two years ago for $1.2 million following the closing of Fairfield Hills Hospital. The homes once housed Fairfield Hills staff members.
The townâs intention has always been to acquire the homes to avoid future development there, then eventually sell them for a profit. Each property will be sold with deed restrictions requiring them to remain single-family units.
Interest in the small to midsize homes has been keen as potential buyers have crowded Edmond Town Hallâs phone lines with questions.
All the lots will be sold, except for three one-acre lot, most known for the scenic rolling hills and meadows behind them. The town plans to keep these properties.
It costs the town $10,000 per year to maintain the lots located on a half-mile strip along the eastern side of Queen Street.
The town purchased each home at a cost that ranged from $76,500 to $140,000.