PRESS RELEASE SHARED BY CONCORD CHAMBER OF COMMERCE
As many employers and hiring managers know, New Hampshire’s high unemployment rate has made it difficult to hire and retain workers. But the issue is exacerbated when your employees cannot find housing. Merrimack County’s housing vacancy rate is currently 0.7% — an extreme low, when you consider that a rate of 5% is typical for a healthy market.
New Hampshire as a whole was recently ranked No. 4 in the country for lacking both owned and rental property units. This ranking, presented by Up for Growth, estimated that our state needs 31,000 housing units immediately. Although this issue cannot be fixed overnight, many developers are taking advantage of Concord’s opportunity for growth, and planning projects across the city to assist with our housing crisis.
Map of 11 housing projects coming to Concord:
1. 33 Canal Street
2. Monitor Way
3. 103 Old Loudon Road
4. 303 Sheep Davis Road
5. Steeplegate Mall
6. 195 Pembroke Road
7. 70 Pembroke Road
8. 11 Stickney Ave
9. 32 South Main Street
10. 10 Langdon Ave
11. 16 Manchester Street
33-35 Canal Street in Penacook
The Caleb Group is currently in Phase 2 of the Penacook Landing Development. 34 housing units were completed in 2020, and 20 more units are being constructed now, 18 of which will be affordable housing. Affordable housing is designed for residents within a specific income bracket.
Monitor Way
This project along the Merrimack River, between Monitor Drive — located off Sewalls Falls Road — and extending towards the new Merchants Way complex in Penacook, includes nearly 950 new housing units. These homes offer a wide range of options for residents, including apartments over retail space and condos beside the river. New England Family Housing is the company behind this project.
103 Old Loudon Road
Dakota Partners, the developers who are also behind the Langdon Ave project, are building 98 units at this site, which is located in a strip of land between Loudon Road and 393, near Walmart.
303 Sheep Davis Road
CATCH Neighborhood Housing is building 48 affordable housing units at this site just behind Walmart, and expects the project to be completed January 2024. 36 of the units will be reserved for individuals who earn less than 60% of Merrimack County’s Area Median Income (AMI); 12 apartments will be reserved for individuals who earn less than 140% of the AMI.
Steeplegate Mall
Onyx Partners Ltd is working on a project that will bring Whole Foods, Costco, and 600 market-rate apartments to the Steeplegate Mall and Regal Cinemas properties. A few current businesses will remain on this property—JC Penny, Altitude Trampoline Park, and the Zoo Health Club. But other businesses, including Concord’s beloved Hatbox Theatre, have found themselves without a home as plans have unfolded for the project.
Pembroke Road
Tamposi Brothers Holdings LLC/Brookline Opportunities LLC is in the midst of a multi-phase project at 195, 197, and 199 Pembroke Road. A total of 123 2-bedroom apartments are included in this project. The first 39 units will be open this fall, and are managed by The Hodges Companies.
Another ambitious project is in the works at 70 Pembroke Road, with an anticipated 370 units being constructed. This project is managed by ZJBC Properties LLC.
11 Stickney Ave
Brady Sullivan is developing the old New Hampshire Department of Transportation (DOT) buildings into 80 apartments. This development will likely reflect the current buildings’ historic nature — dating back to 1926 — and include a section of the extended Merrimack River Greenway Trail.
32-34 South Main Street
The former New Hampshire Employment Security building is currently being developed by the John Flatley Company into 64 market-rate apartments, on-site parking, and a pool, which will be completed later this year.
10 Langdon Ave
Railyard Apartments is finishing up Phase 1 of this project, and accepting housing applications now for 98 new units, which will open fall 2024. The entire project will bring 199 units in total to this site in South Concord.
Manchester Street
A project that includes 16-22 Manchester Street and a portion of Black Hill Road is in the works from ROI Irrevocable Trust. Phase 1 of this plan includes 266 housing units, a convenience store, gas station, car wash, bank, and seniors-specific housing—48 units of assisted living and 71 units of age-restricted independent living. Successive phases of the site include a restaurant, medical office building, and retail space. A portion of this property will remain undeveloped green space, with plans for pedestrian trails, including a trail along the Merrimack River.
Most of these projects still require approval, and will undoubtedly be adjusted after city planning meetings and public feedback. Several traffic studies are currently in the works for these developments, including the Monitor Way project. At our January forum that focused on this development and the Steeplegate Mall project, there was discussion about zoning changes, infrastructure needs, and concerns were voiced about an influx of residents affecting our school district.
A 2020 study from the National Association of Homebuilders Economics and Housing Policy Group determined that large multifamily units—such as the ones highlighted in this article—bring approximately 0.14 children into the area’s school district per unit. These students are spread across schools and grade levels, minimally affecting local schools.
Although the details of many of these projects are up in the air, it is encouraging to see a potentially significant increase in housing coming to our city—a total of approximately 2,700 units from the projects listed in this article. We are setting the example for area towns, and New Hampshire as a whole, and demonstrating that making space for a diverse workforce benefits area employers, increases our tax base, and builds community.
