Word: vineyard
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Dates: during 1970-1979
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...sale of some highly desirable shorefront property on Martha's Vineyard for what seems like an incredibly low price has upset a lot of people...
...summer residents of the Vineyard are upset because they say they would have bought the land and set it aside for conservation, if they had known it was going for such a bargain price...
...there was at least one other potential buyer who offered more money and less development than Land-Vest did. In 1971, Albert L. Cohn, a Law School alumnus and Vineyard summer resident, offered Harvard $1.1 million for the property, proposing to divide it into only 27 lots and to set aside 199 of the 320 acres as common land. Cohn's plan met with the approval of the Vineyard Open Land Foundation, a non-profit group interested in protecting the island from excessive development...
According to Peter Mead, a vice-president of Hunneman and Company, the firm that manages Harvard's real estate in the Boston area, Land-Vest got in touch with Hunneman after seeing an article about the Putnam estate in the Vineyard Gazette. "A few other developers showed an interest, but when they found out about that insidious Kennedy bill they backed off," Mead says. "We offered the property to some bigger Boston developers, but they weren't interested...
...first offer for the land came in 1971 from Albert L. Cohn, a Law School alumnus and summer resident of the island. Cohn offered to pay $1.1 million and tentatively promised the Vineyard Open Land Foundation, a non-profit group interested in protecting the island from excessive development, that he would not build more than 27 houses on the property...