News Feature

Penobscot
Originally published in Castine Patriot, November 8, 2018 and The Weekly Packet, November 8, 2018
Former nursing home building offered for sale
For residential or commercial endeavors

by Faith DeAmbrose

Affordable housing? A trampoline park? The sky is the limit for the Penobscot property at 12 North Penobscot Road. Formerly the Penobscot Nursing Home, this massive structure sitting on three acres of land is being offered for sale by Tranzon, a real estate firm, with bidding taking place between November 20 and 27.

The online, auction-style sale is an attempt to sell the property, which, after a dozen years, multiple law suits and a June foreclosure proceeding is back in the hands of its original owners, Betlins Corporation, run by Christie Hayward, daughter of former owner Wendell Dennison.

Dennison, who had held the mortgage in a 2006 private sale separate from the business, died in 2014, and Hayward has been overseeing the interest since. Few mortgage payments were ever made to Betlins before the business was placed into court-appointed receivership by the state in 2008, allowing for the payments to legally stop.

There were a few parties interested in the building ahead of the June sale, said Hayward, but none officially stepped forward with an offer. Betlins purchased the building back “at a significant loss,” said Hayward and “now we are auctioning off a vacant building.”

An open house will take place on November 13 from 10:30 a.m. to 12:30 p.m. (or by appointment). A minimum bid has been set, although Hayward did not disclose the amount. “I do have the option to accept less” than the minimum, she said.

When asked what she’d like to see in the building, she answered housing: “small apartments,” she said, adding that few affordable options exist for students or young families in the area.

The property is zoned for commercial or residential use, contains a fully-equipped commercial kitchen, Cummins generator and a sprinkler system throughout. More information about the property can be found at tranzon.com/AP18059.