SWAMPSCOTT— The Select Board has voted unanimously to have the town purchase the properties located on 12 through 24 Pine St. for $1.7 million.

Last May, Town Meeting voted to authorize the town to acquire the land with the goal of building between 20 and 30 affordable housing units for veterans. Nearly one year later, Swampscott is finally ready to close the sale.

Town Administrator Sean Fitzgerald assured Wednesday that funds will be held in escrow until the existing properties are officially demolished. When Board Chair David Grishman asked Fitzgerald about a timeline moving forward, Board member Peter Spellios advised against making projections as he feels there is still much to be resolved in the process.

“I think the vote tonight gives the Town Administrator the authority to close, and there are some documents that are still being negotiated,” Spellios said.

He also placed an emphasis on having the neighbors notified and updated throughout the remainder of the process.

“I feel like the Pine Street neighbors need to be updated,” Spellios said. “They’re dealing with a number of things in their community.”

Spellios implored Fitzgerald to ensure that the vacant land parcel be maintained and secured once demolition is complete.

“Vacant parcels can be as much of a problem as vacant buildings,” Spellios said.

Fitzgerald responded to Spellios and said that he and his peers are looking into perimeter fencing of the property in the future.

Similar to the property’s neighbors, Board member Doug Thompson encouraged that town leadership engage the town’s veteran population in regards to the project’s developments.

Director of Veterans’ Services Mike Sweeney was in attendance at Wednesday’s meeting, and the Board expressed collective gratitude for his role. With the passing vote to acquire the land, the town now has a 75 day window to demolish the existing property. Fitzgerald said a meeting with Pine Street neighbors will be set up within the next two weeks.