Rocky Corner Newsletter
Rocky Corner’s vision is to be
a caring cohousing community
focused on sustainability and conservation.
The foreclosure that Ion Bank chose to do in December of 2020 is coming to completion in the next few days. At that time the bank will take possession of the land and the buildings.
The neighborhood infrastructure is complete, including a community well water system, underground electric, and septic systems for the 30 planned homes. The common house is over 90% finished and 22 homes have been constructed, many close to completion.
There are 13 households who have been working together for years to build the first cohousing in Connecticut. We hope we will be able to move in and create the neighborhood we want with the same goals of sustainability, conservation and community that we envision.
Once we know that Ion Bank, or a new developer, is willing to work with us to complete Rocky Corner as planned, we will resume information sessions. Our info sessions are intended to help people understand cohousing and life at Rocky Corner before considering purchasing a house.
A brief history:
Like most cohousing neighborhoods, the creation of Rocky Corner has taken years. We started meeting in 2006. We found the land we wanted and hired the professionals needed to create the neighborhood we envisioned. We got zoning approval from the town of Bethany in a process that took 2 years. We purchased the land in 2014. We broke ground in 2018 and looked forward to some of the homes being ready for occupancy in 2019. Delays from many fronts slowed our progress. Without the closings we expected, which would have continued to generate funds to keep building, we used up our construction loans from Ion Bank in the summer of 2020.
One year ago, Ion Bank decided to foreclose on the project rather than accept our offer to give the project to them via a deed in lieu of foreclosure. On November 20 of this year, Ion Bank “won” the bid to acquire the land and buildings by bidding substantially more than the appraised value. They will take full ownership within a few days.
Whichever developer ends up finishing the project, they must comply with the plan approved by the Bethany Planning and Zoning Commission years ago. That plan includes the affordable homes, easements for agriculture and open space, a maximum of 30 homes to allow for land conservation and organic land care practices.
It will never be a final goodbye to the friends we have made, the lessons learned, our growth as a community with a common vision that we still hold in our hearts.