Hopkinton’s decision not to buy Weston Nurseries 708 acres could lead to . . . well . . . anything.

After much debate, the townspeople of Hopkinton recently voted down the opportunity to purchase 708 acres from the bankrupt owners of Weston Nurseries. The land was protected under Massachusetts state law, Chapter 61A, as agricultural land and was paying lower taxes as a result.

Boulder Capital, a developer, will purchase the land and has presented plans to develop 940 houses and apartments, and 450,000 square feet of commercial space.

The debate was framed as a choice between (a) allocating over $30 million dollars of town money to the purchase versus (b) the benefits of the Boulder Capital proposed development. See the Legacy Farms proposal here.

The flaw in the public debate, however, and therefore the flaw in the collective decision to vote for the development is that, now that Weston Nurseries can sell the land, and Boulder Capital can buy the land, all bets are off.

Boulder Capital need not pursue its much touted plan of clustered and open space development and its professed “share[d] vision of . . . quality of life, open space, great schools, town services, and our desire to help the Town manage its growth.”

When boiled down, Chapter 61A requires, and only requires, that (1) the purchaser give the Town notice and opportunity of first refusal; and (2) pay the Town roll-back taxes upon conversion to non-agricultural use.

Boulder Capital, once it pays the roll-back taxes, and so long as it enjoys continued town support, could very well stick to the Legacy Farms concept. It would be free, however, to pursue any development plans, or, indeed, even to flip the land or portions of it to a bad guy. (It is interesting to note that according to the Asset Purchase Agreement as disclosed in Bankruptcy Court filings, a bonus will be paid to the seller if Boulder can build at least 1,100 market rate units (as opposed to 880 market-rate units in it current plan)).

For better or for worse, Hopkinton’s “no” vote to purchase the land was not a “yes” vote for Boulder Capital’s Legacy Farms proposal, but rather a vote open up 708 acres of prime Metrowest real estate to the wild and wooly world of for-profit real estate development.