It’s one of the most spectacular pieces of real estate in all of Plymouth, with beach frontage and expansive ocean views.
It’s also just a few steps from where Pulte Homes wants to build a six-story 40b condominium project on Sandri Drive in North Plymouth.
It was on the market earlier this year for $2.5 million, then reduced to $2.39 million.
In late November, the 1.7-acre parcel at the end of Hedge Road went under agreement.
The prospective buyer? Tom Wallace.
Wallace is an alternate member of Plymouth’s Zoning Board of Appeals, which is in the process of deciding whether to approve the controversial 163-unit 40b project Pulte wants to pack into a few blocks between Sandri Drive and Prince Street.
He hopes to build a park for North Plymouth residents to enjoy, and housing that is “beautiful and affordable” for Plymouth residents.
Wallace said he has no conflict of interest, either real or perceived, because he is recusing himself from the Pulte case.
“Yes,” answered ZBA chair Michael Main when asked if he was concerned about the optics of a ZBA member buying property so close to a contentious project under consideration. He would not elaborate.
Other town officials raised concerns privately but did not want to go on the record.
Wallace said he fell in love with the property at the end of Hedge Road while touring the spots where Pulte Homes wants to build on Prince Street and Sandri Drive, just around the corner. It is owned by Damon Sgarzi, who ran a Pontiac-Buick dealership in town.
“I was overwhelmed by the beauty of the site,” Wallace said. “I parked in the driveway. I walked on the land. I fell in love with that land. It is spectacular.”
He said he doesn’t know exactly what he wants to build there, but his plans will likely include a pocket park – a small neighborhood green space accessible to the public – so residents can enjoy the breathtaking view.
There are two structures on the land now — a single-family home and a cottage.
But the property is far more valuable than the structures on it, according to 2025 town assessing records. The two buildings together are assessed for $324,600 while the land value is set at $1,330,000.
Wallace said he isn’t sure what he might do with the buildings.
Somewhere on the property he’d like to create something to pay tribute to North Plymouth leaders such Charlie Vandini, who owns Charlie’s Ace Hardware, and the late Richard Tassinari, who owned Balbonis drug store. He would also like to honor his late wife, Kathie.
Beyond that, he’s still contemplating what project will entail – maybe tiny homes, or bigger homes, or condos.
He said his plans are not contingent on the Pulte development’s status because the projects wouldn’t appeal to the same buyers.
“We have two vastly different visions,” he said.
Wallace said any housing he builds would be affordable — not as defined by the state 40b law — but reasonably priced so that North Plymouth residents, maybe retired people or others who have been priced out of the market, could afford to live there.
“I want to develop this in a way that serves the people of North Plymouth. People can’t afford homes. I want to do something that is beautiful and affordable,” he said.
Wallace, one of the original developers of the Pinehills, said he would approach the North Plymouth project the way he approached turning thousands of acres of woods into the massive development that has become home to thousands of people — by listening to and considering people’s thoughts and concerns.
“My track record is I’ve done it before,” he said.
“I need the help of the North Plymouth community and town committees. I’m absolutely listening to everybody.”
Any plan would likely need the approval of various town boards, including the ZBA. In fact, Wallace’s purchase of the property is contingent on him getting required town permits.
“Someday this land will be developed,” he said. “I’m hoping I’ll be the person to do it.”
ZBA chair Main was with him when Wallace toured the neighborhood and noticed the “for sale” sign on the property.
“I didn’t think anything more of it,” said Main. “Next thing I know he’s got it under agreement. What a beautiful piece of property.”
“He’s a businessman,” Main said. “He saw an opportunity, and he went for it. Whatever Wallace proposes for the property, it will be first class.”
Because of his intention to buy the parcel, Wallace will no longer sit on the Pulte case, Main said, because “now he becomes an abutter. Because of the appearance and everything, it wouldn’t be good for him to sit on the case anymore.”
David Peck will take his place.
“We still have enough people on the board, and we will move forward with Pulte,” Main said.
He said if Wallace’s plan comes before the ZBA, he will not be involved in decision making. And he will not receive special treatment.
“If it’s not a good project, we will turn it down,” Main said. “We will turn anybody down.”
Andrea Estes can be reached at andrea@plymouthindependent.org.