Osborne Property (aka 909 Kings Hwy West)
Some Observations and Questions...
The Town of Fairfield is currently considering a financial arrangement with a builder on the purchase of a building lot and the covenant to require certain deed restrictions on the historic home at 909 Kings Highway West in Southport.
Here are some of the issues:
- The property is currently listed for Sale and Rent
- There are 7 total listings on the MLS
- Lot A is the furthest from the corner of Kings Hwy and Oxford and not under discussion.
- Lot B contains the house.
- Lot C is the corner lot and the one it is proposed we purchase for Open Space.
- Lot A is listed for sale at $527,500. Again, this is not the under discussion.
- Lot B or 909 Kings Hwy (the House) is listed for sale at $819,000. And has been on the market 155 days.
- Lot C is listed for Sale at $519,000 and has been on the market for 155 days. This is the lot that is in the proposal.
- Lot C with a brand new 3350 SF Home is listed at $1,159,000.
- Lot A with a brand new 3400 SF Home is listed at $1,219,000.
- 909 Kings Hwy with Lot C is listed for $1,269,000 - a total of .55 acres.
- Interestingly, 909 Kings Hwy is also listed for rent at $3,000 per month.
The home is vacant. The Board of Finance is currently being asked to fund $300,000 to be combined with $200,000 from the Southport Conservancy for a total of $500,000. This money would be paid to the builder/owner of the property to accomplish the following: first, to purchase the lot at the corner of Oxford and Kings Highway West. This is the lot to the left of 909 Kings Hwy West - when looking at the house from the street. The purchase contract would also specify certain deed restrictions to be placed on 909 Kings Hwy West when it is sold. The goal is to preserve the historic home for future generations of the town.
The key question is what is the public benefit? The town would own a .25 acre parcel on the corner that would be Open Space. And the citizens of the town would be able to driveby the Osborne House and look at it from their cars or bikes.
This is a low traffic, low visibility, not so easy to get to location. I am not sure who would drive by this or who would even remember this is an historic home. Lot C on the corner is currently encircled by a stone wall...it appears to be a very small lot (though it is listed as .25 acres) that does not appear to be very welcoming for public use and visitation. It is not obvious what public purposes or functions could be held here. There is minimal parking on the two relatively narrow border streets.
If the town proceeds and the new owners of the home were to plant shrubs or trees, it is quite possible that the home would not be visible from the street - and the town wouldn't even get to use their "drive by" privileges.
If the town buys a quarter acre of open space, what benefit is realized if the public doesn't remember it or use it in any way? How many parcels like this are there in other neighborhoods around town? Is this parcel the most important one to use $300,000 on?
If this property is so important and such a significant part of our heritage, why doesn't the town purchase the house and the parcel? The benefits of owning both would be much greater and allow for tours of the Osborne House by school kids and other groups.
I would appreciate any thoughts, questions, suggestions or feedback that would help in the decision process.
Thank you,
Mike Tetreau
Board of Finance Member
Comments(0)