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Great Barrington Fairgrounds Sold

The Great Barrington Fairgrounds have been sold to FII, LLC for $2.7 million. They are planning on using the property for a variety of purposes including a hotel, condos, and offices. They expect it to cost somewhere around $38 million for the project. Because of its location the Massachusetts Environmental Policy Act agency has recommended that they not do as much building as they had previously counted on. They were going to put in 570,000 sq ft, but it is located at the edge of the Housatonic River flood plain, so they may need to make some adjustments to that.

The fairgrounds have been sitting for a long time as it has had some problems. The old owner battled for years to bring in slot machines into the horse racing park to help with flagging sales. His slot machine proposal was never allowed in. Then in 1995 a tornado leveled the area, but the grandstand and other things were rebuilt. However, they haven’t really been used.

The owner tried selling it for a little less than $3 million but because of its location, most didn’t want to be bothered with the hassle of trying to make a plan work there. With this sale much of Vara’s debt has been paid off, and people who have been waiting for years to get their money out of him are relieved he sold the property.

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