Open season on open land in Hopkinton
Pending sale sprouts crop of ‘planners’
Weston-based Boulder Capital may have the inside track to buy and develop 742 acres of open land in Hopkinton that is part of Weston Nurseries. But it had better leave plenty of room at the drawing board if the deal goes through.
Ever since news a few years ago of its prospective sale, the rolling hills and scenic vistas of the nursery land have been the focus of a crop of studies, reports and citizen gatherings. They include a 105-page report by regional planners, an ongoing master plan by a town-contracted consultant, a 200-member citizens group out to save nearby neighborhoods, a study committee guiding the town’s open space pursuits and even a land-use planning exercise by MIT students.
Add to that the need to address the disagreement between the two brothers who own the land, Wayne and Roger Mezitt, and of residents who have used it as public park for decades. And it seems charting the future of the Weston Nurseries property will be more like a United Nations summit than a planning process.
Extraordinary tactics
Enter Boulder Capital President Roy MacDowell Jr., a local landscape architect, who says he is confident his company can provide the diplomacy and creativity needed to successfully develop the site, for which Boulder has agreed to pay more than $25.5 million. "It’s going to take a lot of creative planning," MacDowell says. "I would hope at the end of the day that right minds can work together."
MacDowell envisions a mixed-use development similar to The Pinehills, a 1,000-home project on 3,000 acres in Plymouth. A purchase-and-sales agreement between Boulder and Weston Nurseries calls for Boulder to seek permits for a minimum of 1,100 housing units on the 742 acres, which is bisected by Route 135 and edges into nearby Ashland. The agreement incrementally increases Boulder’s payments to the Mezitts if more units are added. A maximum 1,700 units would fetch $33.5 million.
Since the land is currently zoned for single-family home, a key hurdle for the developer will be to convince two-third of Hopkinton voters at a required town meeting to rezone it to allow for mixed-use.
Residents and officials say they’re concerned about how such a large housing development would impact the town, which is already struggling with overcrowded schools and rising property taxes. Between 1980 and 2000, the number of housing units increased 82.7 percent, according to the Metropolitan Area Planning Council.
MacDowell says a mixture of single-family homes, apartments, senior housing and commercial space could avoid a major impact on schools and taxable infrastructure while leaving "hundreds of acres" of open space.
To foster widespread goodwill for that plan, MacDowell says Boulder will work directly with town’s officials and consultant, Sasaki Associates of Watertown, to design a development that mitigates pressure on housing, traffic and schools. The company will work with neighbors to find a way to accommodate the hikers and bikers who now use the land, he says.
MacDowell also says he will respect the concerns of the Mezitts, with whom, he claims, he has had a good rapport for many years. Under MacDowell’s plan, both brothers will retain residences on land that adjoins the site, while Weston Nurseries will continue to operate on 150 acres there. A feud between the two brothers over the future operation of the fourth-generation nursery has been played out in U.S. Bankruptcy Court for more than a year. Weston Nurseries and its affiliated company Mezag Agricultural Corp., filed for protection under Chapter 11 bankruptcy in October 2005. Gary Furst, CEO and president of Weston Nurseries and a specialist in working with family businesses in transition, says he was brought in by the nursery board of directors in 2002 to help resolve the conflict.
Peter Mezitt, the son of Weston co-owner Wayne Mezitt, says the two brothers’ disagreement over the future of the nursery evolved into a feud in the fall of 2005, after Roger Mezitt sought to block Weston from continuing its leases of the property held by Mezag Agricultural Corp. Mezag is also owned by the brothers. Roger and Wayne Mezitt were unavailable for comment at press time.
Wayne Mezitt prefers to characterize his differences with his brother over Weston’s operation as "a disagreement in philosophy and opinion" rather than a feud. He says he is optimistic that the sale of the property will resolve the conflict and is striving to be "as positive and constructive as possible."
The sale will provide much-needed capital for the business. Boulder will give Weston Nurseries a $1 million, interest-free loan enabling it to pay off all of its creditors and provide Weston with a $3 million credit enhancement or loan guarantee, MacDowell says. In two years, Boulder will also pay $2 million to redesign and relocate Weston’s garden center on adjoining land.
MacDowell admits there is often a "fine line" between achieving a profitable development and popular one. This project, he says, poses more challenges than most. But, he counts it worth the effort. "How often do you find 750 acres inside 495?" he asks.
Not a done deal
MacDowell has waited two years to buy the Weston Nurseries site, almost landing the deal with a bid that was $10 million higher last year. Back then, he says, he was unable to get a consensus between the brothers to sell it. Now that his company has won the approval of the Mezitts, the deal is far from done.
While Boulder is the preferred bidders – the so-called "stalking horse" – in the sale process, the U.S. Bankruptcy Court in Worcester will open up the sale to other bidders for 30 days, but bidders must exceed Boulder’s bid by $1.5 million. MacDowell says his company will get to counter bid, and is entitled to a $.5-million "walk away" fee if it is outbid.
MacDowell says, while there have been other developers interested in the Weston site, he doesn’t expect them to outbid Boulder in the court process.Other bidders, he says, would have a lot of due diligence to accomplish over the next month as well as coming up with the required $26.9 million.
Once the court finalizes the purchase and sale, Boulder could still be outbid by the town. As farmland, Weston Nurseries has a reduced tax classification, and the town legally has first option to match the winning bid within 120 days of the bankruptcy court’s validation.
That means Boulder, or another eventual buyer, won’t know if it gets the land until May.
Town considering options
Some town officials remain doubtful that Hopkinton can find the money or support to buy the land. But they, along with the citizens group, are evaluating their options. Finley Perry, chairman of the town’s Land Use Study Committee, which was formed to evaluate the prospective Weston Nurseries land sale, says he is skeptical that the town will buy the property. Hopkinton’s recent purchase of two much smaller parcels, some 300 acres in total, stirred up far too much controversy, he says.
Still, Perry says his committee and town officials will get together to decide whether the town wants to purchase the whole parcel or if it can "cherry pick" sections of the land. The latter, he says, would likely scuttle the Boulder deal.
Perry says "none of us wants to see a big housing development" in a traditional single-family project, but a Pinehills-type project might work if the land has to be developed. And Perry says he favors a local developer who "has some kind of vision" and will work with the town as a partner.
Liisa Jackson, a co-founder of the citizens group HOPE, or Hopkinton Organization to Preserve and Enhance, and a member of the Land Use Study Committee, says her group wants to reach out to MacDowell over the fate of the nursery land. HOPE members toured Pinehills some time ago, Jackson says, and did like the development. The key, she says, is a plan that will not negatively impact schools or tax revenue, and also preserves open space.
But the town should also consider raising the $30 million or so to buy the land outright, considering the expense it will face if it has to add to it schools and infrastructure due to development of the site, she says. Jackson says the purchase option, which would require a bond by the town, should be put before town meeting.
One good thing about the town and citizens group positions, both Perry and Jackson say, is that they have been preparing for the land sale for several years and have a lot of information. "I think we have a lot of tools in our tool-kit," says Jackson.
Nursery savior
While town officials ponder their next move, Furst remains very positive about the deal with Boulder Capital. MacDowell, he says, is "very collaborative" and his company has been successful in resolving controversies over developments in other areas, a necessity to make this venture work. And, he says, MacDowell recognizes the need to preserve open space.
The deal will also provide a positive ending to the longstanding feud over the family-run nursery, which will end up with a "clear" set of books and a fresh start, according to Furst. The deal provides for Wayne Mezitt and his son, Peter, to buy Weston Nurseries from Roger Mezitt. Both brothers, he says, are expected to remain living in their homes on land adjoining the development site. Roger Mezitt will retain some 50 acres with his home, according to MacDowell.
Furst agrees reaching consensus on the property will be uphill. "There certainly will be divergent points of view about what’s best for the property," he says.
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