GROTON — The Conservation Commission has learned that yet another housing project has been negatively impacted by the downturn in the real estate market. The developer of the Squannacook Hills subdivision has asked for a three-year extension of the approval given by the commission.
The request for the extension was due to a “difficult economy” and there are doubts whether the 18 units making up Squannacook Hills could be sold at a profit in the current climate.
Squannacook Hills had earlier been the subject of contention when developer West Groton Realty sought a modification in conditions set for the 40B project by the Zoning Board of Appeals.
The developer claimed it could not meet its profit margin if the agreed-upon number of units set aside as affordable were not reduced.