Southold Town has formally authorized the acquisition of 54.13 acres in Greenport as protected open space, executing one of the largest land preservation transactions on the North Fork this year. Approved following a March 24 Town Board vote, the municipality will purchase fee title to the parcel at 2955 Albertson Lane from Southold Ventures Inc. for an estimated $6.5 million, structured as an equal 50-50 partnership alongside Suffolk County at a rate of $120,000 per acre, subject to final survey confirmation at closing.

The acreage forms an extensive continuous footprint bounded by County Road 48, Albertson Lane, Colony Road, and Bayview Avenue. Prior to the municipal acquisition, the woodland parcel had been marketed as a potential 24-lot residential subdivision. By stepping in to secure the site through Southold’s Community Preservation Fund and the Suffolk County Drinking Water Protection Program, town leaders prevent large-scale residential development across an ecologically sensitive corridor situated between the Long Island Sound and Peconic Estuary watersheds.

The land adds a crucial piece to an established network of more than 300 acres of protected habitat in the immediate surrounding area, including Arshamomaque County Park and the Arshamomaque Pond Preserve. Future management plans for the property focus on passive recreational use and environmental conservation, incorporating roughly one mile of new public walking trails into the regional Bay to Sound Trail system, alongside potential public kayak access along Bayview Avenue.

East End Beacon
https://www.eastendbeacon.com/southold-cpf-purchase-proposed-on-54-acres-that-could-be-up-to-24-building-lots/

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