“The Village at West Gloucester was a property that languished until new ownership stepped in,” Scanlon said. “One of the top concerns a homebuyer has about a condominium community in today’s marketplace is financial strength. Restoration Capital, the new developer since September 2010, specializes in finding high-quality residential communities in need of additional financing and transforms them into vibrant properties.
“The company bought this property for cash, so it can’t go bankrupt,” she continued. “Restoration Capital’s tremendous financial strength and its investment in this property means stable ownership. It also translates into the sales of very high-quality residential homes at a fraction of the prices set when real estate was peaking, presenting a very appealing purchase opportunity.”
Homes that were priced up to $900,000 in 2007 to 2009 are now listed starting at $604,900 to adjust to the real estate market’s dramatic change, she added.
Each home boasts 2,638 square feet of living space, three bedrooms and 2 1/2 baths, a two-car garage, a walkout lower level, a deck off of the master suite, and a farmer’s porch off of the living room, both with French doors. The lower level can be finished for an additional 1,200 square feet of living area.
“In 2011, a revised landscape design incorporated a new amenity, the Village Ocean Vista, a raised Village Green outfitted with a number of Adirondack chairs where all the residents can relax while looking out at the Atlantic Ocean,” Scanlon said. Nobody can touch this value on the North Shore. There is not another community like this on Cape Ann — end of story.”
The Village at West Gloucester hosts an open house at its model at 2B Plover Way, Friday through Monday, 11 a.m. to 4 p.m., or by appointment.
Visit www.thevillageatwestgloucester.com or call 978-515-7435 for more information or to schedule a private viewing. Mapping address is 36 Atlantic St., Gloucester, MA 01930.
AT-A-GLANCE 3 bedrooms, 2.5 baths 2,640 to 3,900 square feet Custom shingle-style contemporary homes in clusters of two Prices start at $604,900 LISTED BY Realtor Eileen Scanlon Coldwell Banker Premier Communities 978-515-7435 Eileen.Scanlon@NEMoves.com www.thevillageatwestgloucester.com