The Martha’s Vineyard Film Festival Wednesday took ownership of the Walsh property in West Tisbury, but announced that it would resell the property, possibly to a neighbor group that is a potential buyer.

The Martha’s Vineyard Commission this summer will consider a number of changes to its primary guidelines for controlling development on the Island — including several that would exclude larger commercial developments from MVC review.

The long-planned Lagoon Ridge subdivision in Oak Bluffs got a green light from the Martha’s Vineyard Commission, with strict conditions aimed at protecting the Lagoon Pond.

Despite fierce opposition, Martha’s Vineyard Film Festival leaders said they intend to follow through with plans to buy a tract of residential farmland in West Tisbury.

The old Entwhistle Building on the harborfront property known as Boch Park in Vineyard Haven came down on Wednesday, capping years of discussion.

The Katama General Store may be headed into its final summer as the familiar red outpost on the road to South Beach. Owners Jackie and Doug Korell hope to replace the 1958 building in the fall.