The Board of Selectmen will hold a special meeting in executive session Tuesday at 6 p.m. to consider its next move in the sale of 10 acres of the Schlumberger-Doll Research center property.
The selectmen voted last week to sell the property to Residential Investments LLC a subsidiary of Fairfield County Bank for $4 million.
However, Robert Jewell, the attorney for Residential Investments. said Tuesday that company was withdrawing its offer because of negative comments made about its proposal.
The company wanted to build 24 single unit homes, operating as a condominium, on the land, with each selling for about $800,000.
The housing was intended for seniors, but people in town have questioned whether seniors could reasonably afford to buy a home for that price.
“This was intended to be a positive thing for the town,” Jell said. “Not as something negative.”
The town had a another $4 million bid for the property from Toll Bros, which wants to build 30 luxury condominiums on the land