SOUTHWICK – The Southwick Planning Board approved removing covenants on lots one – seven at The Ranch during an early morning meeting yesterday.
Town Planner Marcus Phelps said the board placed covenants on several lots when the land was being developed.
“You previously released several lots and reserved one through seven for items related to the connections,” said Phelps.
Planning Board Chairman Douglas Moglin said covenants are placed on lots in lieu of bonds.
“When you do a subdivision, a developer prepares an estimate of all the work, including drainage, water, etc., and to protect the residents they usually have to bond,” Moglin said. “The point of the bond is to protect the residents, and the covenant does the same thing.”
Once the work is done, the covenant can be released and the lots sold.
Moglin said the developer is looking to sell the remaining lots at The Ranch. There are a total of nearly 50 lots at the former dairy farm-turned golf course and gated community.
“There are still covenants on lots 25, 26, 27 and 29-38,” said Phelps.
“I believe those are the lots they’re selling to another developer,” Moglin said.
Developer Peter Pappas confirmed yesterday that he is closing on the purchase of those lots from The Ranch this week and plans to sell the lots to individuals to build at their discretion, or to build luxury homes for sale.
Pappas built his own home there on the 14th green and is developing the lots around him as Pinnacle Estates.
“The lots are one to two acres and start at $135,000,” said Pappas. “I’m offering unique homes that are modern and a little smaller for those who are looking to downsize. They have open floor plans and are highly efficient.”
Pappas said Pinnacle Estates is at the top of The Ranch’s property and overlooks the golf course.
Pappas said the design of the lots was already approved and he will finish the roadwork this spring to make way for homes.
Pinnacle Estates will have a homeowner’s association and will be a private, gated community. Pappas said he will work hard to make the community top of the line.
“I’m committed to making sure it’s outstanding because I live there and I’m a local developer,” Pappas said.
Pappas worked in International Business Development from 1979 thru 2007, when he purchased the vacant former Naismith Memorial Basketball Hall of Fame building in the South End of Springfield.
He is the majority shareholder and managing partner in Springfield’s River’s Landing redevelopment project, with $14 million of private funds in that mixed use development incorporating LA Fitness, Mama Iguanas Restaurant and Pro Ex Physical Therapy.
He has also been building luxury homes since 1988.
