N.H. Firm Has Eyes For Central Mass. Developments | Plans for mixed-use mill projects in Fitchburg, Warren
Photo/Courtesy
245 River St. in Fitchburg was recently acquired by a New Hampshire developer for $1.2 million.
Hudson, N.H., company MDP Development has designs on two old mill complexes in Central Massachusetts.
Through two subsidiaries, MDP recently purchased two connected mill buildings in Fitchburg for $1.2 million and a 15-building complex in Warren for $2.2 million. MDP Project Manager Tony Marcotte said the company plans to develop the Fitchburg property, located at 245 River St., into a mixed-use project with as many as 200 apartments and about 40,000 square feet of commercial space. The project’s budget has not yet been set, Marcotte said.
Divide And Conquer
Marcotte said the plan for the Warren property, at 85 South St., is something different. Rather than redeveloping the complex itself, he said, the company expects to do some preliminary work looking at the buildings’ viability for division into condominiums and then sell the individual buildings to different owners at an auction late this spring. He said MDP would like to see around 10 owners take on chunks of the old industrial complex.
“I guess we’ll find out when we hold our auction in May or June how it’s going to work out,” he said.
Marcotte said MDP, which is owned by Mario Plante, has a history of doing work in Worcester, Leominster and elsewhere in Central Massachusetts, mostly as a subcontractor doing drywalling, finishing and cabinetry. He said the company began looking at doing its own projects about a year ago. Its first independent initiative was redeveloping the former Batesville Casket Co. in Nashua, N.H. into an apartment complex for the elderly with a restaurant and some commercial space. That project is just finishing up now, Marcotte said.
“They (MDP) like the old mill buildings, and they’ve done a lot of them as contractors,” he said.
Fitchburg Principal Planner Mike O’Hara said the River Street property has gone through several incarnations over the years. Most recently, it was owned by Interstate Containers, which moved out a few months ago, he said.
Because the area is covered by a mill overlay zoning district, he said, the property could be redeveloped for residential, office, retail or light industrial uses, by special permit.
Marcotte said MDP is now working with city officials to develop plans for exactly how many apartments could be part of the site and what sort of retail or light industrial uses might be appropriate. He said the company is also working with a historical consultant to investigate tax credits the project could be eligible for. He said the residential units could include artists’ lofts as well as more traditional apartments.
Marcotte said the company hopes to have plans for the property completed by the fall.
WBJ Web Partners
Most Recent
Most Recent
0 Comments