From the Nashua Telegraph
Riverfront condo plan put on back burner
By TOM WEST, Telegraph Correspondent
Published: Friday, Aug. 25, 2006
NASHUA ? The planning board tabled a proposal by the Stabile Cos. to purchase and demolish two unused buildings along the Nashua River and replace them with as many as 162 condominiums.
The panel delayed action on the project until Sept 14., saying issues involving the long-planned riverfront walkway and a traffic light at the intersection of Amherst and Fairmount streets still need to resolved.
Traffic issues are considered an integral factor for the redevelopment of the area because another developer, Harper Nashua, has purchased buildings on Franklin Street from Grace Fellowship Church and could build up to 600 residential units, along with 30,000 square feet of retail space, city officials said.
Stabile wants to put up three five-story buildings on Front Street on the north bank of the Nashua River, across from the Clocktower Place apartments.
An industrial facility and an old cotton storage building, which officials say is listed on the National Register of Historic Places, would be destroyed under the plan. The two buildings are owned by Nashua Corp.
Project engineer Jim Petropulos and Morgan Hollis, a lawyer for Stabile, said the cotton mill storehouse can?t be saved because it is structurally unsound and unfit for rehabilitation. But the developer is not ignoring the history of the millyard, they said.
The old cotton transfer bridge, which the city plans to reconstruct at a cost of about $600,000, has been incorporated into the proposal and would provide pedestrian access to the development, Hollis said.
Still, none of these plans are set in stone. The real estate market will dictate what is actually built on the 5.4-acre site, Hollis said.
Stabile, who owns the Nashua Pride, plans to build one 40-unit building first, and if those condos sell, he?ll build another. If the second building is a success, a third will go up.
Twenty percent of the condos would be affordable housing managed by Southern New Hampshire Services.
Moreover, if there?s a market for office space, Stabile will construct a 10,000-square-foot office building on the property. That building would provide an elevator and stairway for pedestrians and bicyclists to get from the bridge, which is about 16 feet above the river, back to ground level, Hollis said.Even if the office building isn?t built because of market conditions, some type of structure with an elevator and stairway would be built, he said.
The city is looking at the transfer bridge to serve as the western terminus of the riverfront walkway, also known as the Nashua River Promenade. Community Development Director Kathy Hersh and Economic Development Director Jay Minkarah have said $1.1 million in federal grant money has been allocated to build the walkway. But there was confusion at the planning board?s meeting Wednesday night with regard to the role Stabile would play in construction of the promenade.
City engineer Steve Dookran, a member of the planning board, said Stabile had indicated at a previous meeting that he would participate in construction of the walkway as part of the condo project.
Stabile and Hollis said Dookran was wrong. Hollis said Stabile has agreed to grant the city an easement to build the structure and will help prepare the site for construction. But it?s a city project, and the city should build it, he said.
?If anyone said we were going to build that, they were wrong,? Stabile said. ?I know what we agreed to and didn?t agree to, and I?ll walk out of here to today if that?s the case.?
Hersh tried to downplay the dispute, saying public access to the bridge has been discussed all along, but the issue was never resolved. She said the city would pay for the walkway even though she didn?t know what the actual cost would be.
?We don?t want to lose this project over an amount of money,? Hersh said. ?It?s important enough so that we?ll find a way to make it happen. There is federal money we could use.?
A traffic signal that will be needed at the intersection of Amherst and Fairmount streets also was a point of contention Wednesday.
The signal is expected to cost about $185,000. Hollis said Stabile would pay for it, but wants to be reimbursed by developers who build in the area in the future.
City officials said they still need to work out a formula for how that reimbursement would occur, and that?s when the board tabled the project after more than three hours of discussion.