Conservation Investment Firm Buys Schoodic Lands
News Release: December 20, 2011
Schoodic Lands Acquired by Conservation Investment Firm
Winter Harbor: The Lyme Timber Company LP (Lyme Timber) today announced that it has purchased approximately 3,200 acres of land on the Schoodic Peninsula in Winter Harbor from Winter Harbor Holdings, LLC. The property is completely undeveloped, consisting primarily of woodland and wetlands. The southern portion of the property lies adjacent to the Schoodic District of Acadia National Park and contains more than a mile of shore frontage, including 15- acre Sargent’s Island. “We are delighted to have acquired this important parcel,” said Peter Stein, managing director at Lyme Timber. “The property is an important local/regional resource with significant ecological value, and we are pleased at the opportunity to ensure the future of its natural resources.”
Three years ago, the former owners proposed a large scale “eco-resort” for the property, with hundreds of villas, resorts and a golf course. For a variety of reasons, these plans never materialized, and after extensive negotiations over the last twelve months, Winter Harbor Holdings made the decision to sell to Lyme Timber.
In the coming months, Lyme Timber intends to work with Maine Coast Heritage Trust (MCHT), a statewide land conservation organization, Friends of Acadia, and other stakeholders to create a plan for the property that takes into account its conservation values and considers appropriate resource development. Following its purchase, Lyme Timber entered into an option agreement with MCHT, giving it the opportunity in the future to acquire a conservation easement on the southern portion of the property. “We look forward to working with Lyme Timber to advance our shared goals of conserving this land that means so much to the Schoodic Peninsula and the people of Maine,” said Tim Glidden, president of MCHT.
“We congratulate Lyme Timber for negotiating this historic opportunity,” said Marla O’Byrne, Friends of Acadia president and CEO, “and are pleased to support them and MCHT in an effort that is so important to the Acadia region.”
The Lyme Timber Company is a private timberland investment management organization with a long track record of acquiring and sustainably managing lands with unique conservation values. Lyme Timber has worked on numerous rural real estate investments in Maine over the last two decades, typically on lands adjacent to State or National Parks, including projects at Bar Harbor, Donnell Pond, Nicatouas Lake, Grand Lake Stream, and Amherst.
Contact: Peter R. Stein, Managing Director, The Lyme Timber Company, 603-643-3300
