Hotel developer buying in Bar Harbor
Ocean Properties has bought up almost an entire waterfront block of properties in Bar Harbor over the past several weeks, perhaps to build a large hotel on the land.
Ocean Properties, the Portsmouth, N.H.-based hotel developer owned by Tom Walsh, purchased nearly $2.2 million worth of property on West and Rodick streets, according to the Mount Desert Islander, and LLCs tied to the company have purchased six private homes in the neighborhood. The company now owns nearly the entire waterfront block in the heart of the downtown. Ocean Properties' Bar Harbor real estate holdings are now valued at $71.5 million, including four hotels.
Ocean Properties would not comment to the paper on its plans for the land, but the town's public works director said Walsh and his property manager met with him to discuss sewer capacity for a 120-room hotel on the property, and a business owner who leases three waterfront spaces from Ocean said he has been told he needs to vacate the property by October 15.
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