$8,190,000

This approved development opportunity to construct 362 new residential units across three apartment buildings is a rarity in Nashua. The approval from the city of Nashua has been received for the proposed site plan, to redevelop the existing lot into three 5 & 6 story buildings (totaling 362 units) - along with associated site improvements for the property. The site is mostly level with a slight slope, providing for 146 garaged parking spaces underneath the 4 & 5-story buildings with a total of 460 parking spaces. The well designed site plan is visually pleasing and will provide a comfortable living environment for the residents. With a view of the Nashua River and direct access to the Nashua Riverwalk trail and pedestrian bridge, location provides for commuting convenience with easy access for residents to enjoy the outdoors. The proposed apartment complex is located in the Downtown area of the second-largest city (91,000 people) in New Hampshire, featuring living with no sales or personal income tax and just over the Massachusetts border, within 50 minutes drive from Boston. This community has high demand for housing, growing demographics and current vacancy rates under 0.6%. Nashua is home to many of the largest employers in the state, BAE Systems North America, Southern New Hampshire Medical Center, St. Joseph Hospital and Hewlett Packard.