Quote:
Originally Posted by camp guy
Although I have no facts and figures to support my statement, I have a feeling that once the real nitty-gritty of repurposing Sandy Point is displayed, the cost figures will skyrocket, with the end result being that participation in Sandy Point will be only available to the rich. The upgrade to the septic system alone is bound to cost a LOT of money. I hope the buyers have very deep pockets.
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The leasees were told the upgrade of the septic will cost $500,000. The asking price for the property is $12 million. There are approximately 50 units, so do the math. None of us will be able to afford to rent there. The buyers do have deep pockets. Just check their website Vacanzanh.com. They have bought almost every cottage colony, motels, several lake front houses and storage facilities in Alton Bay. Only Bayside and Lakehurst cottages are still family owned. They also bought the Lakeview Inn at the Weirs. Megabucks! Every place they have bought has seen doubling of the rents after renovations were done. From what I was told by those who met with the new owners, they seem to be discouraging the present arrangement of seasonal renters and want to rent by the week thru their site on VRBO. Truly the end of an era.