Winding Hollow Condominiums Nestled on a hilltop, the Winding Hollow Condominium complex in Groton is a popular community, conveniently located, offering amenities not typical in the under $200,000 price range. Located just off Route 184, the complex offers a meeting room, indoor basketball gym, spa and fitness center plus tennis courts and swimming pool. There are 4 models available - one bedroom, one bath units of 714 and 972 square feet, and two bedroom, two bath units of 1009 and 1076 square feet. While there are no garages, the complex does offer covered carports. While doing my typical end of year file cleaning, I came upon the original marketing pieces from 1988. Admittedly they were the inspiration for this blog. I loved the way the outdoors was described as a "heavily landscaped environment accented by the placement of rock and boulder treatments ....", a description giving new meaning to the bunch of rocks I have in my back yard! Construction started at Winding Hollow in 1988, just at the end of the real estate boom of the 80's. Prices started at $80,000 for one bedroom units and approximately $110,000 for the two bedroom units. Sales were brisk through 1989 but when the real estate market turned, Winding Hollow experienced a bumpy ride for several years with slow sales, unfinished units and a change in mortgage holders. At one point the RTC (Resolution Trust Corporation) became the principle owner of the property. During this period, a suit was filed against the original developer for construction deficiencies, preventing him from selling off the unsold units. In 1993, there were a large number of foreclosure re-sale units on the market and individual units were selling at almost half their original purchase price. I remember a one bedroom unit selling after almost 200 days for $40,000. But real estate is cyclical and a dedicated volunteer group kept things going until the market turned the corner and a lawsuit against the original developer was settled. Today the complex is a popular one. There have been 27 sales in Winding Hollow this year*. Prices have ranged from a low of $120,000 for the smallest one bedroom unit to a high of $188,500 for a two bedroom end unit. As the marketing brochure from 1988 states "Winding Hollow Condominiums is part of a carefully designed master planned community just minutes from the finest dining, shopping and beaches in Southeastern Connecticut. It proximity to major employment centers allows easy access to work without ever having to use a freeway. Elegant yet warm, this concept of a total living environment has been created for people who expect more from life." *Sales reported through the Eastern CT Realtor Information Service may not represent all sales. |
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