Press: Land Trust Set to Buy 750 Acres in Stowe after Anonymous $5 Million Gift

An aerial view of the 750-acre property in Stowe that may be conserved. (Photo: Steven Mermelstein).

Stowe, VT - This might be Vermont's best real estate deal of the year.

The Stowe Land Trust agreed to buy a 750-acre parcel for $5.5 million, a huge discount from the original asking price of $9.95 million.

"This is the last conservation project of its kind that could happen in our town. It is truly exceptional to have everything coming together to make it possible," Stowe Land Trust Executive Director Kristen Sharpless said in a statement.

The organization needs to raise $500,000 to close the deal after receiving an anonymous $5 million gift that came through the Vermont Community Foundation, which Executive Director Dan Smith said Friday was the largest grant the foundation has ever made in its 33-year history.

Source: Burlington Free Press