back up offers considered
133 acres zoned multi-family & office, with a retail component.
mix of multi, townhome, freestanding at only $12,000 per unit.
Potential over 500 units with PUD and density bonuses, plus up to 80,000 SF commercial with some limitations. The last remaining site of significant size and zoning in this hot corridor of Rt. 120 due to limited zoning. the only commercial site in market with Interstate frontage and visibility. Just 2 Miles to Dartmouth Medical Center and 3 business parks, hotels, etc. 5 Miles to Dartmouth College. The Upper Valley has long been known as a the most significant medical and biotech center in NE outside of Cambridge. Providing a recession proof, stable, and highly educated market. Further indicated by Forbes 2010 study “Lebanon is least vulnerable to recession in US for mid-size cities”. Strong housing demand demonstrated in several surveys. Dartmouth announces $130M, 200,000 SF hospital expansion, adding an additional 300 employees, on top of 1300 needed now, plus the ongoing college and town wide demand. Some historic significance. This site once produced bricks in large kilns, which remain. The best site amenities of any location in the market- 2000 ft. Interstate frontage, adj. to 2000 ac open space, clean 5 acre pond with outlet stream running through, across the street from schools, adjacent to downtown core area, various terrain for views of the pond and area hills, 1800’s brick kilns. Adequate utilities are at the site. Possible complimentary uses: park n ride, transportation hub/terminal for private and public lines (identified as best site in 2015 study), open space sharing with school, town, solar array, new city fire dept station and community center. . Some possibility of reconnecting Hanover St over I-89 replacing the pedestrian bridge to solve the bottle neck at the exit, enhancing the accessibility and uses (hotel site?). Under NHDOT study now. Some engineering available. 2019 phase one available. Low land cost in a high sale/rent market. No current use penalty provides a savings of 10% of the assessed value of the approved project. Offering flexible terms for phasing. see attached market study. 4 mo. absorption rate, Sales $375/sf, rents $2000+
