Local company optimistic enough to develop new subdivision in Gilford

GILFORD — Signalling increased confidence in the residential real estate market, White Mountain Land Company has begun marketing a 15-lot subdivision with a western exposure at Rowe Farm Road off Cotton Hill Road.

"We've been in business since 1983," said Karen Feltham, who with Howard Warren founded the firm, "and this is the longest we've ever gone without developing a piece of land."

Feltham said that White Mountain Land Company purchased the 31-acre tract, not far from Pheasant Ridge Country Club, in 2010. The property, she said, was owned by the Swain family and mined as a small sand and gravel pit., which the company reclaimed, loamed and seeded. Last year, the Planning Board approved two lots, each of 1.22 acres with frontage on Cotton Hill Road, and this spring approved the remaining 13 lots. Since then the roadway has been built to town standards and underground utilities installed.

The lots range in size from 1.08 acres to 8.69 acres with most less than two acres and in price from $79,900 to $119,900. Feltham said that one lot with an expansive view is under contract to a builder who has a right of first refusal on the abutting lot.

"We believe the market is turning and expect to see more residential development in the months ahead," Feltham said.