The Newtown Board of Selectmen has signed off on the sale of a 14-acre property for age restricted housing, so long as the town's land use boards give their approval.  Teton Capital Company of Old Greenwich proposed up to 200 apartments, with a minimum of 150.  The Commerce Road lot is currently zoned as industrial.  Pending land-use approvals, about 8 acres would be developed.  It's part of a larger 42-acre parcel, with the balance preserved as open space.  The plans call for at least 80 percent of the units to have at least one occupant who is 55 years of age or older.  The site is adjacent to the 34-acre Catherine Violet Hubbard Animal Sanctuary, a nonprofit founded in the memory of a girl killed in the shooting at Sandy Hook School.  The sale would generate between $3.1 million and $4.2 million for Newtown, depending on how many apartments are approved. The layout showed one- and two-bedroom apartments in five buildings, with parking areas and amenities such as a clubhouse and a pool.