Proposed mixed-use development in Concord gets more land
Feb. 14—Monitor Way, a proposed mixed-use project in Concord with about 650 housing units, is set to get bigger.
The project developers — New England Family Housing CEO Kevin Lacasse and William & Reeves commercial real estate partner Deane Navaroli — brought on another partner, developer Mike Dion.
With Dion as a co-signer, the developers have optioned roughly 40 acres owned by the Concord Regional Solid Waste Co-op. The uses for the additional land are still being explored.
The total project will now be on 135 acres behind the Concord Monitor building and near the Merchants Way development, which includes a Market Basket and New Hampshire Liquor and Wine Outlet.
Matt Walsh, deputy city manager for development, declined comment Monday afternoon as the project still requires necessary town and state approvals.
The developers want to build 650 housing units, as well as shops and self-storage in a project expected to cost north of $100 million.
The project is being proposed in several phases with one of the first being 100,000 square feet of retail and 250 market-rate apartments. Additional phases will include 120 workforce housing units, 70 condominiums, self-storage and 200 more market-rate apartments, according to its website.
The site has public access to the Merrimack River and more than 2 miles of walking trails.
Dion has worked with general contractors throughout New England including Red Oak apartments under construction in downtown Manchester, West End Yards in Portsmouth and the Baldwin at Woodmont Commons in Londonderry.
In the news release, Dion said Monitor Way will help meet a critical need for housing in the state.
"I have been involved in countless housing projects in the state and all over New England in the past several years, and I know how to get them done, both as a contractor and as an owner," he said in a statement.
Dion and Navaroli are partners on a number of commercial and multifamily residential development projects in Bedford, Epping and Londonderry. Dion is also developing single-family and multifamily housing projects in Laconia, according to the news release.
The combined group has secured $160 million worth of real estate and been involved in over $1 billion worth of construction, including the creation of nearly 11,000 housing units, according to the news release.
The original 95 acres slated for development is owned by Newspapers of New England.