No, unfortunately, they want to tear it down. Apparently, the owner doesn't have the money to pay the inheritance tax, since he was not a family member. So he's counting on that million to pay the tax, and build himself a new house. After all, he has 2 kids and the house only has 1 bedroom. He'll be able to keep the front part (closest to the street) of the lot, and the rest will go to that land conservation thing.
I should post the links to the other articles I found...
Quite an interesting saga!!!
Especially in my case, since me and my mom had an eye on that house since 1995.
Sylvie. =)