A board member reported that an investor group has executed a purchase contract for the Radisson property and completed a significant down payment, and that the inspection period runs through March.

Meeting participants said the prospective buyers are experienced developers with other projects in Brooklyn and The Bahamas, and that the group expressed interest in first-class redevelopment, event space and restoring amenities such as a pool and fitness center. Speakers referenced the previously approved site plan and said it included apartments and short-term rental units; one speaker said the approved plan called for 150 apartments and 30–40 short-term rental units, and added that any changes would require a new site-plan review.

Speakers emphasized that details were still being finalized and that any material changes to the approved plan would require normal planning and permitting review. Board members also discussed the potential positive spillovers for town center redevelopment, including possible additional commercial interest near the hamlet and opportunities to reuse the site for events and waterfront connections. The board asked the reporting member to follow up with town staff and to share public updates once the sale is finalized and the developers provide formal plans to the town.

Separately, members noted that the prospective buyers had taken steps to secure the property (for example, boarding or securing openings) during the contract period. A town official present said she planned to follow up with media once details are finalized and the inspection period ends.