Swampscott Weighing Offer To Sell VFW Post

SWAMPSCOTT, MA — A developer has offered to buy two town-owned properties for $750,000, including the Pine Street property that currently houses Swampscott's Veterans of Foreign Wars post. In addition to the purchase price for the lots at 8 Pine Street and 16 New Ocean Street, Pine Realty Trust would pay $500,000 to the VFW to cover its expenses in finding and relocating to a new location. The terms of the offer were laid out in an Oct. 8 letter of intent that was released under a public records request filed by VFW member and posted on a Facebook group for Swampscott residents.

The two properties are adjacent to one another. Pine Realty wants to use the combined, 0.69-acre lot to build "a residential apartment community," according to the document. Pine Realty's principal is Charlie Pastios, a local real estate investor and developer.

The New Ocean Street parcel currently houses C&L Package Store, which leases the property from the town. Last year selectmen voted 4-1 to not move forward with a town meeting authorization to sell 8 Pine Street while still moving forward with an authorization to sell 16 New Ocean Street.

William R. DiMento, the VFW member who posted the letter of intent, also posted an email showing Swampscott Economic Development Director Marzie Galazka met with Pastios to "discuss development options and strategies for key parcels in Town" two days after the May 17 vote by selectmen.

Galazka, Pastios and Malcolm Maloon, the VFW post’s commander, were not immediately available for comment Wednesday.

Dave Copeland covers Swampscott and other North Shore communities for Patch. He can be reached at dave.copeland@patch.com or by calling 617-433-7851. Follow him on Twitter (@CopeWrites) and Facebook (/copewrites).