By The Associated Press
Providence, R.I. – Nick Korstead tells The Herald News he'll close his purchase of the lighthouse from the federal General Services Administration this week. He bid $56,569 for the 129-year-old lighthouse, which is located in Mount Hope Bay at the mouth of the Taunton River.
Korstead, of Portland, Oregon, bought the 50-foot lighthouse at auction after the previous high bidder--who had planned to open a microbrewery inside--defaulted.
Korstead says he plans on refurbishing the structure and making it accessible to the public, while still maintaining its original purpose as a beacon for mariners.
The sale includes a covenant that requires the new owner to allow Coast Guard access.