The developer behind Forestdale Village on Cape Cod filed for chapter 11 protection last week, Boston Business Journal reported on Friday. Forestdale Village LLC listed assets of $3.8 million, consisting entirely of property, and liabilities of $4.76 million. The subdivision appears to consist of 148 lots. The developer's website suggests that it was aimed at potential residents age 55 or older, with a special emphasis on selling to veterans. The subdivision was approved under Chapter 40B, which lets developers sidestep local zoning if they building housing designated "affordable" in communities that fall short of state targets for such housing.
