This post has been updated*.

The recent sale of a home on Southeast Peacock Lane, the Portland street famous for its annual Christmas-lights tradition, has sparked neighbors' fears of demolition and redevelopment.

As of now, the only plan for the property at 522 S.E. Peacock Lane is to split the site in two, reclaiming a historical lot line that would allow a developer to add an additional structure.

"I doubt that they're knocking down the existing home. ... Right now, their site plan says, 'existing house to remain,'" said Jill Grenda, a Bureau of Development Services official who is overseeing the permitting process.

It's unclear who bought the home. Multnomah County property tax records don't yet show the new owner, and the applicant on the permit is a third party. Alyssa Isenstein Krueger, a broker with Living Room Realty, said the sale closed April 12 for $615,250 in cash, well above the asking price of $575,000.

Krueger, who does not live on Peacock Lane, posted about the sale on social media, writing, "This is the first step before a demolition happens. Nothing is sacred in this town anymore."

Members of the group Stop Demolishing Portland were also discussing the sale in their Facebook forum.

Did you grow up in Portland and visit Peacock Lane as a kid? Me too. Do you have kids now and take them to Peacock Lane?... Posted by Alyssa Isenstein Krueger on Friday, April 15, 2016

In a phone interview, Krueger said she has no connection to the sale or the street but is active with Stop Demolishing Portland.

"We need more density, there's no question," Krueger said. "But this is a lot that should not be split. This is Peacock Lane."

KOIN identified the would-be developer as Everett Custom Homes, which has become a symbol of infill redevelopment in Portland and whose efforts have been protested in neighborhoods like Eastmoreland.

Vic Remmers, the owner of Everett Custom Homes, said late Monday that he is indeed interested in developing the empty portion of the site.

"We are considering building on the vacant lot adjacent to 522," he said.

Update, April 19, 10:25 a.m.: The end of this post has been updated with a comment from Vic Remmers of Everett Custom Homes.

-- Luke Hammill

lhammill@oregonian.com

503-294-4029

@lucashammill