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Watermark has purchased my family's land along Paugus Bay

  • Published in Letters
To the editor,
Legacy Realty Trust has sold the lakefront property located at 1218 Union Avenue to Watermark, Paul Goodwin, on March 21, 2013.
The property has been in the Rudzinski family for 95 years, with all generations having many fond memories of living on Paugus Bay.
Here is some brief information of the history of the property to help clarify the ownership. The business owners of the Shore Diner and Burger King were never the owners of the lakefront land as it has been thought through the years.
William Rudzinski Sr purchased the 622-feet of lakefront property on Paugus Bay in 1918.
In 1963 the property was divided between two of William and Ludovicki's sons.
The northern parcel of 260-feet was given to John Rudzinski, which included the Laconia Ice Company and the home of his family. John sold his parcel in 1997 to Fitzgerald Motorsport.
The southern parcel of 362-feet was given to their son, William Rudzinski Jr. The northern 112-feet of the parcel was the home of William and his wife Pauline and their five children where they lived from 1946 to 1973.
The remaining parcel of land, 250-feet was leased to various owners of the Shore Diner building from 1935 to 1973.
In 1973 the entire parcel of land, 362-feet, was leased to franchisees of Burger King who demolished the Shore Diner building, moved the family home to Valley Street and erected a new building on the leased land. The lease was in effect for 35 years, until 2008 when they chose not to renew the lease. Per lease agreement, ownership of the building was transferred to the owners of the land.
In 1997 William and Pauline gave the 362-foot parcel to their five children, who established, Legacy Realty Trust.
Watermark leased the 362-foot parcel in 2011 until they purchased it.
We all wish Watermark success in their future endeavors on this beautiful property on Paugus Bay.
Sylvia Batchelder