SOUTHWEST HARBOR — The First bank is looking to sell the Village at Ocean’s End, the 47-acre residential development here that failed to fetch an acceptable price at auction March 26.
Jeff Crafts owned the property and planned the development, which received town approval in 2009. But only two of the proposed 40 residential units were built, and The First, which held the mortgage, took ownership last year.
“We’re looking at marketing alternatives,” said Steve Poulin, senior vice president at The First. “We’re looking to convey the property or the project as is, depending on the investor.”