MRRA loses BNAS bid
A local buyer for the 702 units of military housing at the Brunswick Naval Air Station has been selected from 15 applications.
The as-yet-unnamed buyer has reached an agreement in principle with the property's owner Northeast Housing, a public-private housing venture of Balfour Beatty Communities and the Department of the Navy, according to The Times Record. Balfour has not named the buyer because negotiations are ongoing, and has said the closing will likely take between 45 and 60 business days.
The Midcoast Regional Redevelopment Authority had bid on the properties but was not selected. MRRA had planned to stagger the sale of the units to avoid flooding the local real estate market, and now hopes to buy the underlying land, which is owned by the Navy, to influence the development of the property, the paper reported.
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