<p>Tisbury selectmen will go behind closed doors Tuesday to discuss the possible purchase of the historic stone bank on Main street Vineyard Haven. Owned by Santander, the property is for sale.
Tisbury selectmen will go behind closed doors Tuesday to discuss the possible purchase of the historic stone bank on Main street Vineyard Haven.
Vacant since 2017 and currently owned by Santander Bank, the building at 75 Main street in Vineyard Haven is on the agenda for the selectmen Tuesday.
Following the regular meeting at 5 p.m., the board goes into executive session to discuss the property.
Reached by telephone Monday, town administrator Jay Grande declined to provide details beyond the wording of the agenda item, which says in part that the board will “consider the purchase, exchange, lease or value of real property (75 Main St.) if the chair declares that an opening meeting may have a detrimental effect on the negotiating position of the public body.”
One of Vineyard Haven’s best-known downtown landmarks, the fieldstone bank was designed by Boston architect J. Williams Beal and built on the former site of the Crocker Harness Factory. The building was financed by recording industry pioneer William Barry Owen, for whom nearby Owen Park is named. Mr. Owen was the son of sea captain Leander C. Owen.
Santander has listed the property — consisting of the 5,465-square-foot bank on .71 acres at 75 Main street and a 2,801-square-foot drive-through and office building behind it on .32 acres at 16 Union street — for sale with CBRE, a national commercial real estate firm.
A brochure from CBRE gives the asking price as $4 million for what the company calls a “gateway property to Vineyard Haven.”
The town of Tisbury has the two parts of the property assessed at $2.52 million for the main bank, built in 1905 and $1.16 million for the outbuilding that dates from 1910.
Santander closed its branch at 75 Main street in 2017 after replacing the Spanish-style terra cotta tile roof with asphalt shingles the previous year, which touched off a public outcry and litigation over the change.
Earlier this month, the bank replaced the shingles with new terra cotta tiles, as required by the Martha’s Vineyard Commission.
Comments
It would be great if the town
Bruce WTis.It would be great if the town controlled this beauty.
They could rent it to an appropriate tenants at a profit and know that it wouldn't become something it shouldn't be.
Tisbury already has the
All island TisburyTisbury already has the highest tax rate on the Island. There better be a well thought out plan before putting tax payers more in debt as all towns no nothing about productive management of any facility.
SO many other project in
Jason Peringer VHSO many other project in limbo and on hold in Tisbury, why would the town even consider such a purchase?
Tisbury has financial
Darren Lobdell TisburyTisbury has financial obligations for a grammar school and a new high school. Flooding at Five Corners is more common every season. These are the three priorities that require the greatest capital investment.
The stone bank has no public benefit. I would also argue that it has very little economic benefit at a $4 million price tag.
Maybe we should learn a lesson from the Stone Bank. If we harass businesses enough, they will leave our town.
Tisbury has been trying to drive stop and shop out of the downtown location for at least a decade now. Will the selectmen be meeting behind closed doors to buy the Stop & Shop property next?
Tisbury is hostile toward capital investment and the people that provide it. It has been this way since we overhauled our zoning in the 1970s.
We don’t have a plan for new schools or a new Stop & Shop or flood management but we do have a lovely park symbolizing our Town’s struggle against capital and outsiders. I like to call it Boch freedom Park.
I vote no on purchasing the Stone Bank.
New town hall?
Islander Too TisburyNew town hall?
Great location for Town Hall
Tisbury voter Vineyard haven massGreat location for Town Hall offices,let's not miss out like we did with Marine Hospital.Town can utilize parts for offices and rent out remaining areas...Maybe sell the drive threw building to a bank.many ideas we can't let the building fall in disrepair it would be a major disaster to our Down town.
If it is even being
Love Tisbury Vineyard HavenIf it is even being contemplated to spend that kind of $ on a real estate purchase to improve our town, there is only one property worth buying-
DeSorcy’s harbor front. Income producing structures, space for pay parking, and avoiding another Boch-like debacle.
Put a couple arches on it and
Ken Edg.Put a couple arches on it and we could have the islands 1st Mcdonalds.
Chamber of commerce...
Gabrielle West TisburyChamber of commerce...
Tisbury should look carefully
imho VHTisbury should look carefully into this. I wonder why the town would take a commercial property at a prime downtown location off the tax rolls. If so, I hope there will be a structural study done that includes testing for lead paint, asbestos, and radon. I’m looking forward to hearing the proposal.
Add new comment