Waveny LifeCare Network Buys Oenoke Ridge Property for $1.5 Million

One year after withdrawing its application to build a senior housing complex on Oenoke Ridge, Waveny LifeCare Network last week purchased a residential property there for $1.5 million. 

Waveny officials had said in the months leading up to applying in October 2019 to build a 70-unit residential retirement building that its purchase of the .88-acre property at 65 Oenoke Ridge was under contract pending approval for its project by the Planning & Zoning Commission. 

Ultimately, following several widely followed hearings before P&Z, the organization on March 18, 2020 withdrew its application, citing its focus on the emerging COVID-19 pandemic. On Friday, Waveny purchased the parcel, which includes a 1929-built Colonial, from the New Canaan Museum and Historical Society, tax records show. The acquisition “is purely a prudent business decision,” according to a press release issued by Waveny on Monday on behalf of the organization. “This parcel effectively ensures a contiguous connection of important real estate that protects and improves the sustainability of Waveny’s future,” it said. Russ Barksdale, Jr., Waveny’s president and CEO, said in the press release, “Exercising the purchase option now gives us time to evaluate all of our options through an inclusive process to which we remain committed.”

A letter dated Friday and attributed to Barksdale as well as Kathleen Corbet and Leo Karl III—chair and vice chair Waveny’s Board of Directors, respectively—says, in part, “Although there are no specific plans for the property at this time, exercising the purchase option gives Waveny time to evaluate all options.”

It adds, “As you may know, St.