March 17, 2016

Turbine developers buy pair of Wiscasset properties

The Wiscasset Board of Selectmen voted unanimously on Tuesday to accept turbine engine developer Peregrine Consulting LLC's offer to purchase two properties once owned by real estate company Mason Station LLC.

The pair of residential buildings on South Point Drive will become office space for Peregrine Turbine Technologies, which will lease the locations, company CEO David Stapp told the Bangor Daily News.

The need for Peregrine to expand its operations comes at a time when the company is transitioning into testing and manufacturing a new highly efficient turbine engine.

"My heart is in Wiscasset," Stapp told the BDN. "I freely confess that. I have a soft place in my heart [for the town]. I believe it has great potential as a platform for business development and I would like my business to be part of that picture."

The purchase of the two model homes, which Peregrine Consulting offered $200,000 for, is a major get for Wiscasset, according to Realtor Sherri Dunbar, who was told to aggressively search for new occupants by Wiscasset selectmen.

"It's bringing [the properties] back from the abyss," Dunbar said. "This is really going to help the town."

The sale of the two properties is just the first of the roughly 79 Mason Station LLC subdivision lots the town of Wiscasset foreclosed on after a long court battle with the real estate company. In May 2015, a Maine Supreme Judicial Court ruling confirmed Wiscasset's ownership of the property and the right to collect $850,000 in back taxes.

Read more

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