Mostly cloudy skies. Slight chance of a rain shower. Low 57F. Winds E at 10 to 15 mph..
Mostly cloudy skies. Slight chance of a rain shower. Low 57F. Winds E at 10 to 15 mph.
The building known as “The Pearl” is expected to have 275 market-rate units. Part of the building will have 40-60 affordable units, according to the plans.
The building to be known as the "Hartnett Lofts" is expected to have 196 units.
The building known as “The Pearl” is expected to have 275 market-rate units. Part of the building will have 40-60 affordable units, according to the plans.
The building to be known as the "Hartnett Lofts" is expected to have 196 units.
A developer known for projects in Manchester’s Millyard submitted the winning bid to build apartments on two underused city-owned downtown parking lots.
The two buildings will include more than 500 units, according to the proposal. Of those, 40 to 60 will be designated low-income and 80 for workforce housing.
Last year, Mayor Joyce Craig presented the idea to put bids out to redevelop the Pearl Street Lot and Hartnett Lot into mixed-use, mixed-income housing developments. The lots are used for both permit and public parking.
“Like many communities across the United States, Manchester is experiencing a major housing shortage,” Craig said at the time. “As a result, housing costs are spiking across the market, leaving a growing share of the population unable to afford to rent or own a home.”
Lansing Melbourne Group of Florida submitted the winning proposal, according to the Planning and Community Development Department. The company has developed the Tru by Hilton hotel on Spring Street and the SNHU parking garage near the Delta Dental Stadium and is known for housing projects across Southern New Hampshire.
The company is building 156 new apartments in downtown Nashua in partnership with the city. The steel started going up last Wednesday.
A total of three firms submitted proposals, according to the department.
The board of mayor and aldermen must sign off on a master development agreement. The plans will be discussed Tuesday night.
Peter Flotz, a managing member at Lansing Melbourne Group, said the company has done work in the city for more than 20 years. He said they’ve approached the city in the past to talk about how to increase housing.
“For us, the logical thing to do is look at municipal parking lots,” he said. “In general, they are what I call dead money. They don’t generate any real revenue for the taxpayers.”
Beyond bringing taxes, the company will negotiate payments to the city for the use of the land.
The plans call for 545 public parking spaces in a new parking garage at the Pearl Street building. The project on the Hartnett Lot will include on-site parking and share spaces in the nearby Victory Garage.
“The Pearl” is expected to include 39 studios, 180 one-bedrooms and 56 two-bedrooms. The “Hartnett Lofts” are expected to have 24 studios, 132 one-bedroom and 40 two-bedrooms.
Flotz hopes the Pearl Lot redevelopment will stimulate other projects in the area.
The proposal comes as other market-rate projects are popping up all across downtown, including converting part of the Brady Sullivan Plaza into 155 units. A 240-unit apartment complex is being built near Market Basket on Elm Street.
Lansing Melbourne Group will work with Neighborworks on the low-income housing portion of the project.
The company says about 85% of labor will come from New Hampshire and 25% from Manchester.
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