A vacant lot at 73 Rainbow Road in East Granby that was eyed for possible apartment development has been sold.
Meadow Street Partners LLC, of Agawam, Mass., bought the 7.8-acre lot from MPB Realty Venture and Peter L. Brown for $1.2 million in a deal recorded July 21.
Meadow Street Partners is part of Development Associates. Partner Edward J. O’Leary could not be reached for comment on his group’s plans for the property.
The Rainbow Road parcel sits in East Granby’s transitional zone and has long been considered for apartment development.
Brown, who runs Peter L. Brown Co., a home-improvement construction business, could not be reached for comment, but several years ago had been in  conversations with a developer about building apartments on the land.
In 2020, East Granby’s Planning and Zoning Commission approved changes to the town’s Commerce Park Transitional Zone, opening up hundreds of acres of vacant land, including the Rainbow Road site, to mixed-use development opportunities, including apartments and retail.
Town officials said the new owners have not submitted any plans to land use boards for development projects on that parcel.
