WESTBROOK — The Westbrook City Council is considering a new proposal to redevelop the former Prides Corner School into a condominium complex — about half the size of the one it rejected last month.

Stephen Goodrich, the founder and former chief executive officer of PowerPay in Portland, who has bought other prominent properties in southern Maine, is proposing to buy the 10-acre site of the former elementary school for $485,000 to build about 44 condominiums.

The council voted 6-1 Monday to give initial approval to the sale and hold a public hearing on it March 3. Council President Brendan Rielly voted against it.

“I think we should keep that parcel,” he said. “I think we’re going to have a need for it down the road.”

The school, built in 1950 and in need of repair, closed in 2012.

Last month, the council voted 4-3 to reject a proposal by Vincent Maietta to renovate the school building and construct two three-story buildings to house a total of 98 condominiums. The proposal called for the city to sell the 10-acre site to Maietta for $650,000.

Several residents fiercely opposed the project because of the traffic it would generate and the look of the buildings, which they said would be inconsistent with the homes in the neighborhood. The new proposal would meet the current zoning requirements, limiting the number of condominiums to about 44 units and limiting the height of the buildings to 2½ stories, city officials said.

Leslie Bridgers can be contacted at 791-6364 or at: lbridgers@pressherald.comTwitter: @lesliebridgers