Less than six months after winning hard-fought approval from the Martha’s Vineyard Commission to build a 12-unit condominium complex on Dukes County avenue in Oak Bluffs, Donald Muckerheide now plans to sell the property through a sealed bid sale and auction.

Mr. Muckerheide, a Vineyard Haven resident who owns two parcels on Dukes County avenue, had touted his plan as a more viable form of affordable housing than other projects that received state, federal or local subsidies. He first submitted plans to the commission in April of 2008 for review as a development of regional impact (DRI).

During the year-long review that followed, Mr. Muckerheide often clashed with the commission over aspects of his project and questioned the regional planning agency’s power to review DRIs while accusing them of delaying the review of his application.

Mr. Muckerheide this week said he no longer could afford to move forward with construction.

“I just ran out of money. This whole process took a couple of years, longer than I thought it would,” he said.

He said several parties have approached him recently about buying the property, including one interested in turning the property into a jazz venue. But none of the inquiries led to an offer, and Mr. Muckerheide instead hired the firm Southcoast Auctions & Realty to arrange for a sealed bid and possible auction.

He said he would still like to see the property developed into low-cost housing for Vineyard residents. The original plan was to sell each of the 784-square-foot units for around $350,000 to year-round residents.

Sealed bids are due by August 27 by 2 p.m. If no deal is struck by then, an auction will be held on the premises on August 29 at noon.