Our waterfront project, Riverfront Landing, in Nashua, New Hampshire is making headway.
Last December, officials broke ground on the first phase of Renaissance Downtowns’ Residences at Riverside Landing, which will provide an initial 152 luxury apartments close to the downtown area.
The entire project includes several phases of construction and a total of 750 residential units with various neighborhood amenities along the river.
“We need to provide good housing options,” Mayor Jim Donchess has said. Local employers are desperate for new workers, and housing must be available in order for those potential employees to choose Nashua as their home, he said.
The Residences at Riverside Landing will initially include 152 studio, one and two bedroom units in two multifamily buildings, along with a 50-seat restaurant, retail and residential amenities.
“Right now, our region has a very low vacancy rate,” said James Vayo, a downtown specialist for the city and one of the individuals who helped spearhead the development project.
With few housing options available, he said, it drives up rental costs and creates less affordable housing in the city. The number of apartment units eventually built on Bridge Street will ultimately be determined by market demand, according to Vayo.
Once all of the construction phases are complete, the Bridge Street project will include not only housing, but also a community center, courtyards, a park and a community pool.
“This is a key gateway into Nashua,” said former Mayor Donnalee Lozeau, who was instrumental in helping to move the project forward. “We have such an opportunity here.”
Lozeau said the complex, once finished, will be within walking distance of a future train station being considered for Crown Street.
According to the mayor, the development will bring more than $250,000 in new property taxes to the city, and will have an overall economic impact of about $40 million.
Construction progress on Phase I of 152 units, a restaurant and community building is moving along well. Anticipated leasing to commence in Q1 2018.To keep an eye on what’s happening with our Nashua project, stay tuned to our news page or for more information, email Laura Stillwagon at Lstillwagon@renaissancedowntowns.com