The year 2004 marks the 20th anniversary of the formation
of the Roton Point Association. The following tells how it all came
about…
The hurricane of ’38, followed by World War II
with its many restrictions, marked the decline of the Roton Point
Amusement Park. As such, in the early 40’s, the park’s management
decided to close and sell the property. As its size was too large
for any one buyer at that time, it was divided into two
parcels---approximately 10 acres for Rowayton to purchase and 13
acres going to a group of investors from New Canaan. The part that
was acquired by Rowayton is now Bayley Beach. The New Canaan
investors offered to sell their portion to New Canaan for $45,000,
but that town voted against the proposal.
The investment group held on to its portion and,
in the mid 40’s, organized the Roton Point Beach Club. The club was
operated rather informally as a private organization with the direct
involvement and participation of the owning partners. During this
time, the present breakwaters were added to protect the beach, and
several tennis courts were built. The club rapidly grew in
popularity and soon attracted a group of very active catamaran
sailors.
The group of owners soon grew tired of their
direct involvement in the club’s operation, and, as such, they
leased the property to the Roton Point Club for 15 years. It was
their desire to maintain the property as a recreational site for as
long as possible even though they recognized its potential as a
residential, condominium community. Keeping their options open, they
entertained various offers for the property, including a failed
attempt in the late 70’s by a group of Rowayton residents to
purchase the property for their town.
The members of the Roton Point Club were also
very interested in acquiring the property, and they tried to raise
the necessary monies through "bond" funds. However, too few members
subscribed to the bonds. Most members wanted a direct "equity"
interest in the property if they were to spend their money.
Fortunately, at about the same time, Connecticut passed the "Common
Interest Ownership Act" that allowed for a condominium form of
ownership that was not necessarily for residential use. With that
stroke of luck, the Roton Point membership was able to purchase the
property and establish ownership on an individual member basis.
With the partners agreeing to sell and a
sufficient number of members agreeing to purchase their unit,
adequate funds were available to proceed. The partners "closed’ with
the sale to the Roton Point Association on May 15, 1984. Individual
unit "closings" took place on the Hotel porch on Sunday, May 27,
1984.
Now, 20 years later, we are celebrating the 20th
anniversary of when individual members were able to purchase
their own PIECE OF THE POINT.
