The Board of Selectmen is reviewing three bids to develop a significant portion of the Wright-Locke farm property. The site is roughly 20 acres, of which 7.52 are still being farmed under the governance of the Wright-Locke Farm Conservancy. The remaining 12.5 acres is the portion to be developed. The town has owned Wright-Locke Farm since July 2007, when taxpayers purchased the Ridge Street property for $14 million. The developers who bid on the project were CMC Partners in Lexington, Northland Residential LLC in Burlington, and Duffy Properties LLC in Waltham, according to assistant town manager Mark Twogood. Each developer is seeking to build condominium complexes at the site, with only one of the respondents - Northland - offering to make the units restricted to residents age 55 and older. Northland was the low bidder, at $5 million; CMC Partners offered $8 million; and Duffy Properties up to $7.5 million for the development rights. A fourth potential bidder, Schools for Children in Arlington, inquired about the possibility of using the land as a campus for the school.