Plum Island's Future
...the town will be conducting a planning study over the next year-and-a-half to determine future zoning regulations. ...
Supervisor Russell asserted last summer and again this week that "no high end subdivisions" will find their way onto the island. "We have plenty of those in town," he said.
John Nickles, co-owner of Lewis and Nickles Real Estate, cited a resort development as the island's “prime use," though admitted the laboratories wouldn't be quite suitable for it. As far as a price tag goes, “Robins Island was the last island sold, for $11 million. Though Plum Island could be stigmatized," he added. On a per-acre analysis, adjusted for inflation, Plum Island's land value alone would compare to $32.3 million, not counting any infrastructure considerations or perception of ecological blemish.
“I'm curious to see what happens myself," Donielle Cardinale, of Cardinale Realty Group, commented. “It's hard to put a price on any kind of stigma that might be attached to the island, but you can't put a price on the uniqueness of the island either. It isn't that often that islands are sold around here. The market value will be determined by whoever comes in and puts a price on it, which will depend on the uses that they're looking for there."
Labels: Plum Island