PROVINCETOWN- The Land Court presiding over the Harbor Hill bankruptcy has approved an order authorizing the sale of the property in the bankruptcy proceedings.
“This has been the culmination of almost 18 months of work since our town meeting back in February of 2017. We went into court maybe about a month later, and at that point the judge had ordered the trustees to take all 1,500 timeshares to land court, and get the land court to get the authorization from the trustees to sell the property,” said David Panagore, Provincetown Town Manager.
The trust was created through a town meeting vote in 2015, and signed into law by Massachusetts legislature in late 2016.
In 2017, the Trust began pursuit of its mission, to create and preserve year-round market rate rental units in town – ideally at Harbor Hill by bidding for the site, at a cost of $8,101,620.
Harbor Hill is a time share property with located off of Bradford Street in the West End of town.
“Some of the units are in decent condition, some of the units need some work done on them, and some of the buildings need repair,” said Panagore.
“In addition, the trust is looking to create two additional units at the sight that are handicapped accessible. The sight is currently 26 units, by the time that we are done we should have 28 units.”
“We should see construction happening there this fall,” he added.
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