Richmond Great Point

Our Story

In 2013 Phil Pastan and Shane Valero formed Richmond Great Point Development, LLC. (RGPD) to acquire the former Glowacki portfolio, which contained over 75 individual properties spanning over 70 acres, located off Old South Road. RGPD created a mixed-use Master Plan which seeks to provide economic sustainability and improved quality of life for year-round residents of Nantucket. RGPD continues to collaborate with local officials and industry professionals to appropriate the RGPD’s land portfolio, provide affordable housing options, and revitalize part of the island.

The Development’s Evolution:
2013-2018

DUE DILIGENCE

During due diligence, 75 properties were assessed to review prior permitting and determine any location code or safety violations, with repairs made to many. Certificates of Occupancy were obtained and 15 of the existing single-family homes were sold to local buyers.

WATER SUPPLY

Protecting the water supply through sewer upgrades is sound stewardship. After confirming that the entire 69-acre site was located within the island’s aquifer protection overlay zone, a $600,000 sewerage plan including new lines and pumping station improvements was created to replace the many failing septic systems.

COMMUNITY OUTREACH

Community outreach has included participation in the Naushop Crossing Area Plan Work Group, ongoing dialogue with the Town through its Planning and Economic Development Commission and Planning Board, outreach to key local organizations, and multiple meetings with abutters.

PROPERTY MANAGEMENT

Property management and oversight will be provided by RGPD, drawing on the experience of The Richmond Company, Inc. RGPD will retain ownership of the apartment rental properties and form an official homeowners’ association for the neighborhood of single-family building lots to ensure compliance with community standards.

CLEAN UP

Clean up efforts saw the removal or relocation of equipment and materials, including approx. 500 vehicles which were crushed and shipped off island. Earthen berms were put in place to prevent future illegal dumping.

TRAFFIC

Addressed traffic flow through studies analyzing prospective volume and impact on the community plan. The main entry into the development was improved with a new center turn lane off of Old South Road.

PROPERTY SALES

Property sales have benefited residents and strengthened the local economy. Two parcels were sold to the Nantucket Islands Land Bank and the Town to create additional public access, open space, and parking along the harbor within the Washington Street corridor. RGPD also rezoned and subdivided five vacant commercial / industrial properties, selling them to eight local business owners.

ENVIRONMENTAL ASSESSMENT

An environmental assessment confirmed that the property was not impacted by any substantial pollution or contamination requiring remedial action.

Our Story

The Development’s Evolution:
2013-2018

DUE DILIGENCE

WATER SUPPLY

COMMUNITY OUTREACH

PROPERTY MANAGEMENT

CLEAN UP

TRAFFIC

PROPERTY SALES

ENVIRONMENTAL ASSESSMENT

Construction & Sales
2017-2019

Pre-acquisitions

Development

Product

Development By

Contact Information

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Our Story

The Development’s Evolution: 2013-2018

DUE DILIGENCE

WATER SUPPLY

COMMUNITY OUTREACH

PROPERTY MANAGEMENT

CLEAN UP

TRAFFIC

PROPERTY SALES

ENVIRONMENTAL ASSESSMENT

Construction & Sales 2017-2019

Pre-acquisitions

Development

Product

Development By

Contact Information

Follow us

The Development’s Evolution:
2013-2018

Construction & Sales
2017-2019