CHATHAM – Town meeting voters in Chatham will decide on Monday whether the town should try and purchase the Eldredge Garage property.
The estimated value has been put at $2.5 million.
David Oppenheim, who leads a group pushing to purchase the property to be used for parking, told selectmen the land could hold 90-100 vehicles at a cost much less than the $50,000 per space being discussed by some.
“When you look at what the parking spaces would cost if you fully developed the front area for parking – is a number something less than $25,000.”
Oppenheim said that cost would include restoring or replacing the old gas station which could house bathroom facilities.
The town would also be getting a deal on the land as it was recently appraised at $2.75 million.
Oppenheim said he hopes the back parcel of land will be kept for open space, but the town could chose not to purchase that part of the property or later sell it for residential development.
Chatham Town Meeting is Monday.
According to the one of the Eldredge daughters, the estate’s liabilities and estate taxes are what is causing the family to sell in the first place.
The stable has been with the Eldredge family for over 100 years.
Bennett Environmental is currently conducting testing on the property, looking for possible pollution from the former gas and service station uses.
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