Friday, September 5, 2008

Slow Going

Well, we hear that New England Development definitely won't be bringing forth any plans this year. Why would it? Shaky retail market. Exhorbitant construction costs, and they own a lucrative marina and retaurant properties, the proceeds of which I'm guessing cover the tax bill.

Things apparently are moving just as slowly over in Provincetown where Karp and Lagasses are hoping to establish the third point of the Khaki Triangle (Nantucket, Newburyport and ...)

News from the Provincetown banner is the group still are performing due diligence on the pier they'd like to purchase.

Sounds like town officials are getting a little anxious.

Utility consultants representing New England Development, the company considering purchasing and renovating Fisherman’s Wharf, met with town officials last week.

The meetings with Town Manager Sharon Lynn and David Guertin, department of public works director, were part of the intensive due diligence the prospective buyers, led by waterfront developer Chuck Lagasse, are doing. The meeting last Thursday was essentially a fact-finding mission on what town-owned utilities such as wastewater, electricity and storm draining would be available for a renovation of the wharf, which Lagasse said earlier might involve developing the pier into a 350-boat marina.

“We were all hoping to hear something, maybe see something, but this was purely an investigation into utilities,” said David Gardner, assistant town manager, who attended the meeting. “We continue to work closely with them to ensure they get the information they need.”


I personally got a kick out of this little ditty.

Lagasse, who along with New England Development owner Steven Karp, redeveloped much of the downtown waterfront in Newburyport, said earlier he is primarily interested in expanding the marina component on Fisherman’s Wharf.


Um. No. I say someone's just assuming. I'd say Provincetown officials might to buy Port in Progress The Book, available somewhere now, for the real story.

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