Home News Massive Mixed-Use Project Proposed At Former Concord Monitor Property

Massive Mixed-Use Project Proposed At Former Concord Monitor Property

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CONCORD, N.H. — New Hampshire developers met with Pennacook residents on Wednesday to discuss conceptual plans for the former’s redevelopment. Concord Monitor Lot in the north of the city.

Kevin Lacasse of New England Family Housing and members of his development team presented two plans for the lot. It is a mixed-use community proposal featuring large industrial buildings and hundreds of apartments and condominiums, ground floor retail and self-storage his space company. . He pointed out: Encounters with New England Newspapers, previous ownerit seemed a waste to use it for industrial purposes, not just to investigate parcels.

Instead, Development team Bring similar new neighborhood concepts together to a smaller version of Salem Tuscan Village Development.

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“We all know that New Hampshire is in the midst of a housing crisis,” said Lacus, noting Merrimack County’s vacancy rate is unusual, well below the 5% benchmark.

Currently, 1 in 333 homes in the area is vacant. Calling the housing crisis a “national problem” that has spilled over to other sectors of the economy, Lacas said, “It’s even worse when you eat out because you don’t have enough servers or help from your store. We have to wait 20 minutes,” he said. The problem also affects healthcare and other business sectors, he said.

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Conceptual diagram of the monitor way. credit: new england family homes

At the same time, residents, including those from Penacook, were being forced out of their homes due to rising rents and selling prices. Lacasse said the problem is due to a shortage of housing inventory at all levels.

Monitor Way, which is “currently in the conceptual stage,” will include about 650 homes, he said. In the first phase, on the ground floor he will build 250 market-price apartments with 120,000 square feet of retail space. “At the same time,” Rakas said, another 120 units of “workforce” apartments will be built. and another 200 market price units will be built.

At this point in the process, the exact size of each housing unit wasn’t known, but Lacus said it would be primarily studios, one-bedrooms, two-bedrooms, and possibly three-bedrooms.

Since the project was in the development stage, the price was also unknown.

Spencer Lacasse, another employee at New England Family Housing, later said the company’s employee housing unit in Bristol would be $1,250 for a two-bedroom unit. The price is based on the average median income in the area, he said. The price point was designated as ‘labor force’ based on funding mechanisms requiring low prices.

Dean Navaroli of Williams & Reeves Bedford is currently working to sell all products side of property and the “first foray” the team has made in public on the project. He said they hope to “set the stage” for outreach — something he called “really important”. for sale.

Ed Lovagecivil and former city engineerMr., who now works for Stantech, said: many The concept and design builds on the rezoning effort of the new Concord Next, “creating a new character and vision that we have. neighborhood of the futureThe plan is to develop just over half of the lot and include open spaces and trails and public access to the Merrimack River. Sidewalks around retail centers will be widened. The trail was expected to be approximately 2.2 miles. Four acres, about half of which are open to the public, Roberge said the focus was “how to create a balanced neighborhood … (that’s) the intent of the new zoning.”

The self-storage company that many of Monitor Way’s residents probably use is located on the north side of the lot, close to the manufacturing industry and the incinerator.

No plans have been made for the old monitor office and printing press building.

Expected to be worth between $150 million and $200 million, the project will generate more than $2 million in property taxes each year and create more than 100 jobs in the ground floor retail store. It also includes construction work during the production phase. Lacasse and Navaroli said microbreweries are also a target sector in the retail space. as a barber shopbakery, or other business that is Concord Crossing Project– Market basket projection to the north.

While many of the dozen attendees at the Pennacook Village Association meeting were politicians or former politicians, residents happy with the overall concept.

One resident suggested scrapping self-storage and building more housing. Some residents were concerned about prices, noting the difficulty of finding “affordable housing” in villages and cities. I raised an issue. But Fred Reagan, the district’s director of operations and maintenance, who assisted the association in hosting the meeting, said enrollment numbers have plummeted over the past decade. At Pennacook Elementary School, where the conference was held, there were 315 last year, down from 443 in 2012.

“Do you have space?” he said. “yes.”

Residents also raised transportation issues, as the project has only one entrance and one exit.the project Whitney Lord and Whit Lord,new A roundabout is under construction, should create a second point of entry. However, Lacus did not own the land between the lower end of Whitney Road and the former monitor lot. Wheelabrator, Concord Regional Waste, and Jack Alosa own three of his lots between the Monitor property and Whitney Road, according to the city’s Department of Valuation.

Roberge said the Whitney Road extension is on the city’s list of future road constructions.

The development team was asked if they were considering arranging a tax-increased financial district for the project, and said it might be possible in the future.

Lacus said he and his family were born and raised in New Hampshire. The company develops and manages “hundreds of units” across the state and has just expanded to Louisiana, North Carolina and Texas. But he said he’s looking to expand to New Hampshire.

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