Wexler said in decades past, there was a drift away from cities, with people and businesses migrating into the suburbs. With the rise in the cost of energy and housing, however, Wexler believes the trend is moving back to cities, which have mass transit, lower housing costs and more entertainment and cultural options.
Attempts to garner comment from McDevitt on his company’s plans for the site were unsuccessful. But, according to the Certificate of Formation for 191 Beach Realty LLC, the nature of the primary business or purposes of the company is listed as “Apartment Complex.”
Wexler said he could not be specific about 191 Beach Realty’s plans because of a confidentiality agreement they related to the sale of the property; however, he believes they are looking at a 210-unit development.
“They are a very sophisticated group, and I believe they’ll do right by the project,” Wexler said.
In July 2011, a few months after purchasing the land from the Goldman family, Federated Companies had announced it wanted to alter the previously approved 210-condo plan for one that would include 76 single-family homes. Although some officials initially liked the idea of fewer dwellings, when the plan actually came forward, it lost favor with the Planning Board because it called for very small lots to fit all the homes on the 13-acre site, Salisbury director of planning Lisa Pearson said at the time. Having living space on the ground level also caused problems, for the area is in a flood plain, Pearson added.
As recently as March 2012, Federated Companies announced it had acquired all the necessary approvals to go forward with the Goldmans’ original plan. In March, Pearson said that Federated’s next move was a preconstruction meeting with town officials, but a certain amount of preconstruction site work had to be done on the land before the company could actually pull a building permit.