A limited liability company associated with brothers Rick and Mark Bove, major landlords in Chittenden County, bought the 1.4-acre former Brown Derby site on April 7 for $775,000, suggesting they may be closer to building apartments on the empty Northfield Street lot. The purchaser of the property was 101 Northfield, LLC, with an address of 218 Overlake Drive in Colchester, also the location of Bove Brother’s Realty, Inc.
The Boves, who reportedly own 400 rental units, first told The Bridge in March 2022 they had plans to buy the property and build a 42-unit market rate apartment building, but the expected purchase last spring did not occur. Some neighbors have expressed concerns about traffic flow, the size of the building, and news reports of maintenance problems at the Boves’ apartments.
Montpelier Planning and Zoning Administrator Meredith Strobridge Crandall said a subdivision permit was issued in December 2021 for the lot, which had been part of the Econo Lodge motel property. “No one has reached out to me about development plans since the property was sold (nor in many months prior to that),” she said in an email. “Whoever wants to develop the parcel will need a zoning permit of some sort to do so.”
