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People and Property: Real Estate and Construction News From Around NHNH Business ReviewNH Business Review Staff

People and Property: Real Estate and Construction News From Around NHNH Business ReviewNH Business Review Staff

The ribbon cutting ceremony for the newly opened Monahan Manor Apartment complex on Myrtle Street in Nashua. From left, Rich Mazzocchi, Principal, Tremont Development Partners, LLC; Scott Costa, NHRA Assistant Executive Director; Eric Wilson, NHRA Commissioner; Tom Monahan, NHRA Commissioner; Lynn Lombardi, NHRA Executive Director; James Tollner, NHRA Commissioner/Chairman; and Rob Dapice, NHHFA Executive Director. (Photo by Dan Splaine Photography)

Nashua celebrates Monahan Manor Apartments with ribbon-cutting ceremony

The transformation is now complete. On the site of the Bronstein Apartments on Myrtle Street now stands the newly constructed Monahan Manor Apartments. The old 48-unit public housing complex built in 1974 was demolished in 2022 and a new one was built.  The city celebrated this milestone with a ribbon-cutting ceremony held August 12.

Monahan Manor is a complex with 216 units ranging from studios to five-bedroom apartments. 206 are designated as affordable housing with 10 leased at market rate. The four-building complex includes a business center, a fitness center, and a playground. A Head Start program will be hosted on-site for children ages 3 to 5.

The project is a multi-year effort by the Nashua Housing and Redevelopment Authority (NHRA) to add housing inventory in the city.  Hutter Construction Corporation managed the construction of the 252,000-square foot project designed by Market Square ArchitectsNH Housing (NHHFA) provided financing through the Low-Income Housing Tax Credit Program and the State of NH Affordable Housing Fund.

The project on its own can be considered a success, but in light of the greater housing issues faced by the city, seems like a modest beginning. We are facing a historic housing shortage with hyperinflation in purchase and rental pricing. Demand far outstrips supply.

NHRA Executive Director Lynn Lombardi was celebrating the new complex but reminded the gathered crowd of the scope of the challenge

“The need in this community, as in the country is tremendous. The Nashua Housing and Redevelopment Authority’s waiting list for public housing stands at about 3,800 families. Our Section Eight Choice Voucher waiting list stands at over 4,000  families. Our waiting list for this development right here which contains 216 units stands at over 1,900  in less than a year. There is a lot more work to be done.” said Lombardi.

Part of the accomplishment was the transition for the 48 Bronstein resident families through the construction. Alternative housing was provided with other supports to prevent out-of-pocket expenses.  More than half have returned as new residents of Monahan with the rest re-located to new locations of their choice.

A crowd of dozens was on hand to mark the occasion, including multiple state representatives, city officials, and business leaders.  For President of the Board of Alderman Lori Wilshire, the importance of the new apartments is about the residents.

“I am just so excited that this beautiful property went from 48 to 216 homes for people who really, really need them,” she said.

The apartment complex is named after longtime Nashua Housing Authority commissioner Tom Monahan.  He was on hand with members of his family to celebrate the honor.  Monahan’s service to Nashua began in the 1980s and continues today. He described to the crowd the origins of the project and the process of its fruition. He summed up the accomplishment with humility.

“It really isn’t about the name for me,” he said.  “It’s about the 216 families that reside here.” — Dan Splaine, Nashua Ink Link

Council seeking proposals for Old North Main property in Laconia

Councilors expressed a sense of urgency and careful optimism regarding the prospect of matching with a developer to design and construct permanent, market-rate and below-market-rate workforce housing on a city-owned parcel located in the northern part of the city at their meeting Monday night. 

The city is soliciting letters of interest and statements of qualifications from real estate developers regarding their capacity to design and construct housing on the property at the intersection of Old North Main Street and Parade Road, across the street from where the state proposed to locate a new 911 call center.

“This, as you recall, is a parcel of land that the city took possession of in exchange for breaking a 99-year lease for a parcel of land that we had leased with the State of New Hampshire off of Meredith Center Road,” Mayor Andrew Hosmer said Monday. “If I’m not mistaken, that land now is identified as the potential new 911 building.”

That property, which is just over 10 acres and has access to municipal water and sewer systems and abuts Route 106 and Old North Main Street, includes one existing structure — a pump house.

“One of the ideas in entering into this agreement with the state and taking ownership of this land was that it was, from my perspective anyway, more conducive to potential development of housing than the parcel of land on the top of the hill on Meredith Center Road,” Hosmer said. 

“Enhancing the supply of housing choices, especially the supply of permanent, primary, year-round workforce housing options, is a priority of the Laconia City Council,” reads a draft request for information presented to the council by Hosmer. “In furtherance of that goal, the City acquired this property in 2021 with the intent of considering its future use for appropriate development, including housing options,” it continues in part.

Workforce housing, as defined by the draft, includes housing that individuals earning between $45,000 and $70,000 would be able to afford to lease or rent.

Included in the draft is a list of attributes which city representatives hope responses from potential developers may include: proposals weighted to maximize the number and percentage of the overall number of units of below-market-rate rental and lease units; those balancing density and preservation of green space; those congruent with the residential character of the surrounding neighborhood; those exhibiting thoughtful land use, creative site planning and architectural design; those that will integrate with future development of the WOW Trail; those that consider energy efficiency and may utilize renewable energy; those that encourage community interaction; and those that include infrastructure built to city specifications in anticipation of city ownership and maintenance. 

City leaders say they’re particularly interested in responses that include those characteristics. 

“It’s anticipated these housing units will be leased/rented and not sold. Ideally, this housing development will maintain the character of the surrounding area,” the draft reads in part. “Any selected developer should also prioritize building a collaborative relationship with relevant city departments and the surrounding residential community.”

During a discussion among city councilors, it was agreed and specified that language in the draft would be changed to include a phrase instructing developers to work with a group of residents who live in surrounding neighborhoods. Hosmer suggested Ward 1 Councilor Bruce Cheney and Ward 3 Councilor Eric Hoffman act as the council’s liaisons to any such committee. 

The draft goes on to describe the city’s willingness to entertain proposals which include both the sale of the parcel or long-term land lease agreement and notes that, in order to ensure the parcel is developed according to the intentions of the city, a developer may be required to deposit monies into an escrow account until a certificate of occupancy is issued.

The draft also specifically references the Cottages at Back River Road development in Dover, a community of 44 energy-efficient, 544-square-foot homes which have been occupied by teachers, firefighters and municipal employees, among others.

The draft makes direct reference to the city’s need for housing for municipal employees.

“A specific challenge for the [City of Laconia] is the lack of housing for City employees,” the letter reads. “The city is particularly interested in creative approaches to housing for city employees in which the monthly lease is based on an employee’s salary.” Gabriel Perry, Laconia Daily Sun

Perley Pond II on Blueberry Lane (Courtesy photo)

Laconia Housing adds 24 units of affordable rentals

Laconia Housing recently announced the addition of 24 units of affordable housing in Laconia. Over the last two years, Laconia Housing has been working behind the scenes on projects and partnerships to help ease the burden of housing in the Lakes Region.

With these additions, and through working with local landlords, Laconia Housing now houses nearly 1,500 residents, including elderly, disabled, working families, and professionals in 351 units across Laconia, Belmont, and Northfield.

In March of this year, tenants moved into Perley Pond II, a new development on Blueberry Lane.  The 12 new units include 10 one-bedroom standard and two one-bedroom ADA units, all with gas and electric included in the rent.

This project involved many community partners including Meredith Village Savings Bank, which provided the $1.3 million in financing to secure construction, and InvestNH, which provided the additional $1.35 million from the state funding. This same state funding also provided the City of Laconia with $120,000, $30,000 of which they contributed to this project.

Laconia Housing invested $250,000 of its own to complete the funding necessary to complete the project and NH Housing worked with Laconia Housing’s agency to establish the ground lease.

Last month Laconia Housing completed two more projects.

One, at 13 Summer St., had five existing units, and Laconia Housing converted the existing space to add three more units. Workers also completed renovations to the roof, windows, siding and insulation. Today, Summer Street offers a total of eight units, with one- and two-bedroom apartment options, and the NHSAVES program assistance for energy savings. 

Lastly, residents moved into 395 South Main St.’s four units on July 1. These in-town residential units were converted from office units. They are conveniently located close to Laconia’s downtown shops and food stores, right next to Laconia Housing’s own Sunrise Community Living campus.

For both Summer Street and South Main Street projects, Meredith Village Savings Bank provided the financing and Federal Home Loan Banks gave the award for low-income housing.

Cathy Bowler, Laconia Housing Executive Director said, “It is Laconia Housing’s vision to be an integral component of the Lakes Region community by providing a peaceful, safe, comfortable environment for all residents to live, work, and grow. These three projects are just another small step toward achieving that vision.” — Laconia Daily Sun staff

Medical building may transform to housing in Somersworth

 A vacant High Street office building may soon be transformed into a residential property.

The city’s Zoning Board of Adjustment approved a change of use request for the former Seacoast RediCare building Wednesday night.

Mark Smith, of TideRock Management in Portsmouth, said his company has the 396 High St. property under a conditional contract, and plans to purchase it if it gets the approvals needed for conversion to residential use.

Michelle Mears, the city’s director of planning and community development, said the application calls for the creation of 14 units. She said the next step is the submission of a site plan application to the Planning Board.

“The building, the former Seacoast RediCare has been vacant for a long time,” said Mears. “The property is unique, being a former medical building. They will need to conform to city zoning ordinances or seek waivers where they cannot.”

HCA Healthcare closed Seacoast Redicare an occupational care facility associated with Frisbie Memorial Hospital in 2021.

There is still a 30-day appeal process if anyone wants to object to the change,” Mears said. “After that, the process can move to the next step.”

Smith said they have been keeping an eye on the property.

“We like the location and thinks it lends itself to this adaptive use,” he said. “The leasing agent for the property was not getting a lot of inquiries so approached them with the idea. We are under contract to buy the property if it can pass the city requirements.”

The property is currently owned FMH Health Services in Nashville, Tennessee. Smith said it has been vacant since 2021.

“We have not submitted the site plan yet, but I plan on that happening soon,” said Smith. — Karen Dandurant, Foster’s Daily Democrat

Categories: Real Estate & Construction