BEACON FALLS — A property that has not produced tax dollars for several years will soon be up for auction at a bargain price.
The 135 acres adjacent to Chatfield Farms on Skokorat Street owes upward of $165,000 in delinquent taxes, according to First Selectman Christopher Bielik. AuctionAdvisors, a New York-based real estate auction company, plans to market and sell the residential development site at an online-only auction on Sept. 17.
It has been set at an auction reserve price of $199,000.
Oren Klein, managing partner of AuctionAdvisors, said the company already has heard from a handful of developers interested in the property, all with varying plans in mind.
“It is rare to find tracts of land of this size anywhere in this section of Connecticut,” Klein said in a press release. “With its prime location and various possible uses of this property, it’s a real opportunity for either developers looking to build or investors looking to acquire large acreage for some future use.”
The land initially sold in 2007 for $2.8 million and was supposed to become a 275-unit active adult residential community. However, when the recession hit, the developer was unable to build and later declared bankruptcy. After the mortgage company foreclosed on the land, the town marked it among five properties to put up for auction in October of this year.
Bielik said no matter who holds the property, the town is first in line to be repaid the outstanding tax bill.
Although it is zoned for single-family residential use, Bielik said the town is open to hearing other plans for the property.
“Our perspective is that any developer that comes into town that has a plan that moves the town forward in the direction we want to see is an advantage to building our community,” Bielik said. “As long as the plans add value to the town of Beacon Falls, we are amenable to listening to all good ideas.”
Klein said while AuctionAdvisors hopes to get more than $199,000 for the land, that the auction process is often unpredictable.
“I don’t like to set any expectations, but you never know with an auction,” he said.