Delhi agrees to sell shoe factory land for residential use
Housing developer Trident Building is looking to purchase approximately 1.69 acres of old shoe factory land at 19 Elm Street and build up to 24 affordable housing units there.
On November 13, the town council unanimously approved the sale.
“We’ve had many discussions and this is a great project that was presented after a lot of people came and went,” City Councilman Jim McEachern said. “It would be a great addition to that area of town.”
The land was originally home to a shoe factory built in 1909 and was home to various factories throughout the 20th century.
The town took ownership of the land through tax deeds in 2015. When the town inspected the building, officials found a large amount of hazardous waste stored inside. The town spent $150,000 to demolish the building and remove hazardous waste.
Initially, the City Council planned to sell the property for $150,000 to replace the revenue spent. He had three interested bidders, but after taking a closer look at the property, all three withdrew their bids or lowered their bids.
After interaction with two of the original interested parties, the council ultimately decided to accept Trident’s proposal.
More hazardous materials were discovered around the site as recently as September, but have since been removed, according to an Environmental Protection Agency report. EPA paid for the cleanup of the contaminated soil.
Despite the recently removed soil, Trident still agreed to the purchase. While workforce housing was not originally the council’s intention, councilors are pleased to have finally found a new use for the land.
“I want people to know that we’ve been working on this piece for a long time, and I was adamant that the town is going to take back the money that it invested and try to get it back,” City Council said. Councilman Brian Chiriquiello said. “We tried different methods, but it was difficult to market the property.” — Caitlin Sahajian/northofboston.com
St. Anselm College breaks ground on Grappone Hall
On Friday, October 13, 2023, members of the St. Anselm College community gathered to celebrate the groundbreaking of Grappone Hall, the new building that will house the Gene Graduate School of Nursing and Health Sciences.
The new building, estimated at 45,000 square feet, will provide nursing, public health and health sciences students with the learning environment and experiences they need to become the next generation of healthcare leaders. The facility includes a 150-seat auditorium, public health community space, an 11,000-square-foot state-of-the-art simulation center, collaborative learning spaces for kinesiology, anatomy, and physiology, and two floors of community space for students to gather and socialize. It is included. study.
St. Anselm College of Nursing enjoys a strong reputation in New England, with students consistently exceeding the national average on the NCLEX licensure exam and securing employment at some of the nation’s top hospitals. The Gene Graduate School of Nursing and Health Sciences, which launched on July 1, 2023, positions the department for growth in graduate programs, regional collaborations, and more. St. Anselm’s new public health and health sciences major will also be located at the new school.
Plans for the School of Nursing and Health Sciences include new interprofessional opportunities for collaborative learning both in the classroom and in the local community, two-way collaboration with health systems, public health, nonprofits and industry partners, and new majors. Build, and track within existing majors, build experiences for all students to consider the intersectionality between health care, liberal arts, and the Catholic Benedictine tradition.
Thanks to a $10 million transformational gift, the School of Nursing and Health Sciences will be named in honor of Roger ’70 HD’06 and Francine Jean. Additionally, the new building will be named Grappone Hall in honor of Robert and Beverly Grappone P’04 HD’21’s generous $5 million gift to the university.
As part of a Congress-directed spending bill beginning in December 2022, the City of St. Anselm received a $2.2 million grant from the federal government toward the construction of this new facility. Members of NH Representative Chris Pappas’ office also attended the event.
National existing home sales decreased by 4.1% in October
Existing home sales fell in October, according to the National Association of Realtors. Of the four major regions in the United States, sales decreased in the Northeast, South, and West, but were flat in the Midwest. All four regions experienced year-over-year sales declines.
Total existing home sales (completed transactions including single-family homes, townhomes, condos, and co-ops) fell 4.1% from September to a seasonally adjusted annual rate of 3.79 million in October. Year-on-year, sales decreased by 14.6% (down from 4.44 million units in October 2022).
“Prospective homebuyers experienced another difficult month due to continued housing inventory shortages and record-high mortgage rates,” said NAR Chief Economist Lawrence Yun. “However, despite the price concessions occurring at the higher end of the market, multiple offers are still occurring, especially on starter and mid-priced homes.”
The total number of registered housing stock units at the end of October was 1.15 million units, an increase of 1.8% compared to September, but a decrease of 5.7% compared to a year ago (1.22 million units). At the current sales pace, there will be 3.6 months of unsold inventory, an increase from 3.4 months in September 2022 and 3.3 months in October.
The median existing home price for all housing types in October was $391,800, an increase of 3.4% from October 2022 ($378,800). Price increases were recorded in all four of his regions of the United States.
“While the situation for buyers remains difficult, home sellers are doing well as prices continue to rise year-on-year, hitting a record high for October,” Yun said. “In fact, the typical homeowner has accumulated more than $100,000 in home equity over the past three years.”
According to the monthly REALTORS Confidence Index, the typical real estate sales period in October was 23 days, up from 21 days in September 2023 and October 2022. 66% of homes sold in October were on the market for less than a month.
First-time buyers accounted for 28% of sales in October, up from 27% in September and the same as in October 2022. According to NAR’s 2023 Home Buyer and Sellers Profile, the annual share of first-time buyers was 32%.
All-cash sales accounted for 29% of transactions in October, unchanged from September but up from 26% in October 2022.
Individual investors and second-home buyers, who account for the majority of cash sales, accounted for 15% of home purchases in October, down from 18% in September and 16% a year ago.
Distressed sales such as foreclosures and short sales accounted for 2% of sales in October, about the same as last month and a year ago.
mortgage interest rate: According to Freddie Mac, the average interest rate on a 30-year fixed-rate mortgage was 7.44% as of November 16th. This was down from 7.50% the previous week, but up from 6.61% a year ago.
“Fortunately, mortgage rates have been declining for three consecutive weeks, increasing the appetite for home purchases,” Yun added. “Although limited at this time, we expect housing inventory to improve through this winter and into the spring. More inventory means more home sales.”
Sales of detached houses and condominiums/co-ops:Single-family home sales in October fell at a seasonally adjusted annual rate of 3.38 million units, down 4.2% from September’s 3.53 million units, and down 14.6% from a year earlier. The median price of existing single-family homes in October was $396,100, an increase of 3.0% from October 2022.
Existing condominium and co-op sales hit a seasonally adjusted annual rate of 410,000 units in October, down 2.4% from September and 14.6% from a year ago. The median existing condominium price in October was $356,000, an increase of 7.6% from the previous year ($331,000).
Regional breakdown: Existing home sales in the Northeast decreased by 4.0% from September to an annualized rate of 480,000 units in October, a decrease of 15.8% from October 2022. The median sales price for existing homes in the Northeast was $439,200, up 7.5% from a year ago.
Existing home sales in the Midwest in October were at an annual rate of 930,000 units, flat from the previous month but down 13.9% from a year ago. The median price in the Midwest was $285,100, an increase of 4.2% from October 2022.
Existing home sales in the South decreased by 7.1% from September to an annual rate of 1.69 million units in October, a 14.6% decrease from the previous year. The median price in the South was $357,700, up 3.5% from last year.
In Europe and the United States, the number of used homes sold in October decreased by 1.4% from the previous month to an annual rate of 690,000 units, which was a decrease of 14.8% from the previous year. The median price in the West was $602,200, up 2.3% from October 2022.
MVSB opens new full-service bank branch in North Conway
Meredith Village Savings Bank (MVSB)) plans to open a new state-of-the-art banking office at 1498 White Mountain Highway in North Conway in 2024. Construction is expected to begin in the spring.
“MVSB’s residential and commercial lending teams have been assisting local residents and businesses in the Mount Washington Valley for several years. Our relaxed, customer- and community-focused approach is well-received. ” said MVSB President Marcus Weeks.
“We are regularly asked to expand our services by opening branch locations, and we are very excited to have found a location that allows us to offer that convenience to new and existing customers. We look forward to furthering our investment and involvement in this energetic community.”
The new building was designed by Warrenstreet Architects, Inc. and construction will be managed by Conneston Construction, Inc. (CCI).
Construction begins on apartments at 249 Main Street in Nashua.
Construction recently began on an apartment building at 249 Main Street in Nashua. His six-story, mixed-income, infill development in the middle of downtown Nashua will create a total of 45 new rental apartments in a mix of one- and two-bedroom units.
In addition to a small outdoor courtyard, the first floor will house a community room, administrative offices, and laundry facilities, as well as an elevator serving the entire building.
Currently, the rental vacancy rate for two-bedroom apartments in Nashua is less than 0.5%, and the median gross monthly rent is $2,141, so these apartments are in high demand.
“This is a very difficult time for people trying to find an apartment they can afford to rent, and we need more affordable options for working families,” said Robert Tourigny, executive director of NeighborWorks Southern New Hampshire. These are also difficult times for developers like our organization who are creating new products.” “This property will increase Nashua’s affordable rental options while beautifying previously unattractive and underutilized land in the heart of downtown,” he continues.
Neighborhood Development Director Jennifer Budney and Neighborhood Development Project Manager Logan Johnson will manage the pre-development process for this project, including securing approvals and financing, as well as working with construction contractors, architects and other partners. I am in touch with him every day. Basics.
“This is an exciting opportunity for NeighborWorks Southern New Hampshire, but most importantly, it’s also an exciting opportunity for the City of Nashua and the people who will ultimately live here,” Jennifer Budney says.
“Our development team and city staff have been a great partner in the construction of the apartments.
249 Main Street will be an asset to Nashua. ”
The project architect is John Jordan of John S. Jordan Company. The design and construction contractor is Hitter Construction.