The owner of the former Zion Bible College property in Barrington appears poised to sell the 39.5-acre parcel.

According to Barrington Town Manager Jim Cunha, the owner of the property recently agreed in principle on the sale of the property to a developer. Mr. Cunha said the involved parties signed a "letter of intent," although it was not clear when the property transfer would take place or who the purchaser was.

The town manager said the buyer has plans to develop the former college campus into an age-in-place or "continuing care" facility, offering different types of housing for an older population. That's a similar plan to the one proposed by ShineHarmony Holdings, LLC back in 2015. 

ShineHarmony purchased the property at auction in Oct. 2011 for $3.5 million, and four years later went public with plans to build its own age-in-place facility on the property. 

ShineHarmony had partnered with officials from the Peregrine Group to develop the plan for the continuing care retirement community. The original plan called for a 214-unit assisted living facility, 35 cottages, and 18 independent living units, 3 guest rooms and a number of common rooms inside Belton Court, which is a large historical residence located on the property.

Town officials worked with ShineHarmony and Peregrine Group to finalize a tax stabilization deal, which would have allowed the property owner to pay about $106,000 in taxes in the first year, and then increasing amounts for the next 15 years. The deal called for about $1 million in taxes by the 15th year.

But months passed and no work began. Residents who live near the former college campus grew curious about the development. 

In August, Mr. Cunha said ShineHarmony officials had canceled their plans to build the retirement community. Instead, they had put the property up for sale. 

On Thursday, Nov. 2, Mr. Cunha said he had learned that officials from ShineHarmony had agreed in principle on the sale of the property. He said the possible sale price and other details were not available.

Town officials said that the tax stabilization deal earlier struck between ShineHarmony and the town could still be used by the new developer, as long as the property is used for the same purpose. 

Mr. Cunha said he was pleased to hear the news of the new developer. He said Barrington needs to provide more elderly housing; he added that current condition of the buildings on campus is concerning. 

Three buildings on the campus have no power and no working fire alarms. One of the buildings has a fully-functioning alarm system and one has a partially operational system. The three dormitory buildings are marred with graffiti, and most, if not all of the windows are broken. The police are regularly called to the property for trespassers.