Trident Building to develop affordable housing units on old shoe factory land
The town of Derry, New Hampshire, has unanimously voted to sell a 1.69-acre parcel of land at 19 Elm St. to Trident Building, a housing development company. The land, which was once home to a shoe factory, will be transformed into a housing development consisting of up to 24 affordable housing units. This decision comes after years of discussions and setbacks, making it a significant milestone for the town. The project aims to revitalize the area and provide much-needed affordable housing options for residents.
A Rich History and Environmental Challenges
The land on Elm St. has a rich history, with the shoe factory originally built in 1909. Over the course of the 20th century, it housed various factories. However, in 2015, the town acquired the property through a tax deed and discovered large quantities of hazardous waste stored inside the building. The town spent $150,000 to demolish the building and remove the hazardous waste, making the land safe for development.
A Challenging Sale Process
Initially, the town planned to sell the property for $150,000 to recoup the expenses incurred during the demolition and cleanup. However, potential buyers withdrew or lowered their offers after closer examination of the property. After negotiations with two interested parties, the town ultimately accepted Trident Building’s offer. Despite the recent discovery of hazardous materials in September, which have since been removed by the Environmental Protection Agency (EPA), Trident remains committed to the purchase.
A New Use for the Land
While the original intention was not specifically for workforce housing, the town councilors are pleased to have found a viable project that will benefit the community. Council member Brian Chirichiello emphasized the town’s efforts to recoup the invested funds and market the property effectively. The development of affordable housing units will not only address the town’s housing needs but also contribute to the overall growth and development of the area.
Conclusion:
Derry’s decision to sell the old shoe factory land to Trident Building for affordable housing development marks a significant step forward for the town. Despite the challenges faced during the sale process, the council’s unanimous approval demonstrates their commitment to finding a suitable use for the property. The project will not only provide much-needed affordable housing options but also contribute to the revitalization of the area. As Derry embraces this new chapter, the community eagerly anticipates the positive impact these housing units will have on its residents and the town as a whole.
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