High Street Lofts
Aldermen will be presented with a master development agreement with Lansing Melbourne Group, LLC, for the city-owned parking lot on School Street. LMG is proud to construct a seven-story apartment complex on property currently used as a downtown parking lot.
The proposal includes the sale of the parking lot parcel for $900,000. The site is located about one block from Main Street, and is across from the Harbor Homes facility on High Street; it now serves as a public parking lot. According to the proposed master development agreement, the developer intends to construct a 160,000-square-foot building with 150 apartments. Conceptual plans include a seven-story building with 42 studio units, 76 one-bedroom units and 32 two-bedroom units.
Mayor Jim Donchess said recently that the vacancy rate for apartments in Nashua is at a record low of .6%, and rents increased 19% over the past four years. "Housing is a critical need for our residents, for our business community and for a healthier economy" said Donchess.