Approved 72 Unit Multifamily Development

Vacant Land for Sale
Sale Pending/Contingent
Also listed as Multi-Family, Business Opportunity
Catylist Listing ID: 30862100
Property Subtypes: Multi-Family, Other
Status: Pending/Contingent
Gross Land Area: 5.91 Acres
Sale Price: $2,268,000
Unit Price: $383,756 Per Acre
Sale Terms: Cash to Seller
Last Updated: 4/25/2024

Overview / Comments

This approved development opportunity to construct 72 new residential units in free-standing, 5 story building over podium parking is a rarity in Nashua. The approval from the city of Nashua has been received for the proposed site plan. The site is mostly level with a slight slope. Building C provides for 34 garaged parking spaces underneath the 4 stories of residences. The site package includes all demolition work, environmental work, stormwater, parking lots, including paving, striping, curbs, walkways, stop signs. Comprehensive set of MEP (Mechanical, Electrical, Plumbing) architectural drawings. Final landscaping is not included.

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, this location provides for commuting convenience with easy access for residents to enjoy the outdoors.

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Additional Details

Nearest MSA: Manchester-Nashua
County: Hillsborough
Tax ID/APN: 00037-000006
Zoning: TOD
Property Visibility: Excellent
Airports: Manchester Regional - 15 miles, Boston Logan International - 45 Miles
Site Description: Main Street runs straight through the historic and cultural center of Nashua. The downtown area is classic New England, reflecting the spirit of prior generations and the continuing growth of present-day commerce. A stroll along brick-lined sidewalks brings you past dozens of vibrant shops and restaurants. Downtown Nashua is uniquely retail, residential, municipal and professional, all at once. Many restaurants, cafes, and pubs line the picturesque Main Street in northern Nashua. In addition, there are an ever-growing number of ethnic restaurants throughout the city, including Indian, Mediterranean, Columbian, Mexican, and others. The downtown Main Street area has become a minor destination for its restaurants, bars and sidewalk cafes. Nashua is a home to BAE Systems North America (located within few minutes walk from the site), Southern New Hampshire Medical Center, St. Joseph Hospital and Trauma Center, Teradyne Connection Systems Inc, Hewlett-Packard, GN Netcom/Unex Inc, GL & V Pulp Group Inc who are some of the largest employers in the state. Mine Falls Park is a 325 acre (132 ha) park in the heart of the city that contains forest, wetlands and open fields. It is bordered on the north by the Nashua River and on the south by the millpond and power canal system. Activities include walking, boating, fishing, cross-country skiing, and biking, as well as organized sports on baseball, soccer and lacrosse fields.
Area Description: Nashua is famous for its many shopping outlets, especially in the southern part of the city where you can find every single store chain in New England. Many Massachusetts residents come here to take advantage of the lack of sales tax. The commercial area spans from exit 36 in Tyngsboro, MA to exit 3 in Nashua on U.S. Route 3. The Pheasant Lane Mall, a 1M square foot mall at the Nashua/Tyngsboro border is one of the biggest shopping centers in the state. It has over 100 stores, restaurants and kiosks, including anchor tenants Dick's Sporting Goods, JCPenney, Macy's, and Target.
Lot Frontage: 1856
Zoning Description: Transit Oriented Development Overlay District
Part of Planned Development?: Yes
Development Name: Lefavor Temple Street multi-housing
Topography: Level
Easements: Other
Soil Type: Mixed
Available Utilities: Electric, Water, Gas, Sewer, Other
Water Service: Municipal
Sewer Type: Municipal
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Demographic Statistics

Proximity: 1 mile 3 miles 5 miles
Total Population: 20,647 87,972 128,933
Median Age: 34.83 39.15 39.29
Households: 8,719 34,705 50,321
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