STANDISH – A massive subdivision in Standish, located on a 530-acre tract of mostly wooded land and aptly named “Wildlands,” is set for auction on Thursday, June 6.

The property sits off Boundary Road near the Sebago line and was developed by the late Peter Busque of Windham, who had plans to build several phases of residential homes in an area of Standish that Town Manager Gordon Billington describes as “no-man’s land.” In the mid-2000s, Busque built roads throughout the parcel and to date several homes have been built in Phase I, which is served by a paved road.

“It’s probably the largest approved subdivision that I’ve seen come through the town, probably the largest ever with 120 lots approved,” Billington said.

Gorham Savings Bank, Billington said, now owns the property, which South Portland-based Keenan Auction Company is set to auction off next week.

Billington said some of the infrastructure has been established, including water lines, electricity and the road system.

“[Busque] had roughed out the roads, although they’ve been beaten up by ATVs,” Billington said, adding that Busque had to reduce the scope of the project due to a vernal pools assessment.

The developer of the remaining property will need plenty of capital to complete the job, Billington added.

“I think someone who is into large-scale developments is the logical purchaser of it,” Billington said. “There have been several people that have made inquiries to the town that are large-scale earthwork and development people. There are so many lots there it’s going to take a major effort to go ahead and build it out.”

Prior to Busque, the heavily forested property had been owned by the former S.D. Warren paper company based in Westbrook. It sits close to the Steep Falls section of Standish and is bordered by a state-managed wildlife preserve.

According to the property specs listed on Keenan’s website, 22 lots in Phase I and eight lots in Phase II have been built. A total of 86 other lots have been approved. The auction takes place at the site at 11 a.m. on June 6.