Vol.41, No.08
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W E E K O F M O N D A Y, F E B R U A R Y 2 5 , 2 0 1 9
THE REGISTRY REVIEW NEW HAMPSHIRE’S STATEWIDE REAL ESTATE & FINANCIAL NEWSPAPER A Publication of The Warren Group
WEEKLY SALES OF NOTE
PORTSMOUTH PIONEERS
Manchester 7 COUNTRY CLUB DR. . . . . . . . . . . . . . . . . . . . . . . . $72,924,000 B: Country Club Drive Owner S: WPN Property LLC COUNTRY CLUB DR. . . . . . . . . . . . . . . . . . . . . . . . . . $15,576,000 B: Country Club Drive Owner S: Hilltop Apartments LLC Mtg: CBRE Capital Mkts Inc $63,630,000 661 CORNING RD . . . . . . . . . . . . . . . . . . . . . . . . . . . . $3,300,000 B: Capstone Realty Group LLC S: Herbert S Hardman Use: Apartment Bldg - 9 + Units, Lot: 231793sf
Bartlett 28 BEARFOOT CREEK RD U:28. . . . . . . . . . . . . . . . . . $1,562,533 B: William T Cassidy Tr, Tr for William T Cassidy RET S: Bearfoot Creek LLC Mtg: Federal Savings Bank $1,000,000 Use: 4 Bdrm Condo
Auburn 593 CHESTER RD . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,370,000 B: Hidden Trails Ventures S: Calef Lake Camping Arca Mtg: Norway Savings Bank $1,316,000 Use: Commercial Building, Lot: 1710340sf
Somersworth HIGH ST. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $1,100,000 B: Gopalkrishna Patel Tr, Tr for Shiva RT S: Edward J Walenta Tr, Tr for Edward J&M Walenta FT
Meredith 7 SANCTUARY LN. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $975,000 B: Justin Zaichkowsky & Tamara Zaichkowsky S: Bruce W Vaal & Janelle A Vaal Mtg: TD Bank NA $780,000 Use: 3 Bdrm Contemporary, Lot: 37897sf
Orford 22-24 MOREY HOUSE DR. . . . . . . . . . . . . . . . . . . . . . . . $961,000 B: John L Bronson & Daphne Dejong S: Richard S Shreve Tr, Tr for Shreve FT Mtg: Mascoma Savings Bk NH $425,000 Use: 1-Family, Lot: 740520sf
Hanover 71 LYME RD. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $941,800 B: Tracts Of Lands LLC S: Roger W Mcwilliams Mtg: First Command Bk $800,512 Use: Commercial Building, Lot: 43560sf
Dover 170 GARRISON RD . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $850,000 B: David W Stockbower & Raquel C Stockbower S: Charles R Townsend & Sherri A Townsend Mtg: Santander Bank NA $680,000 Use: 5 Bdrm Colonial, Lot: 566280sf
West Side Yards Tests New ‘Gateway’ Zoning Mixed-Use Project Aims to Make Walkable Destination BY JAMES SANNA Registry Review Staff
A
mixed-use development proposed for the site of a defunct conference center in Portsmouth could pave the way for other commercial projects in the city. Portsmouth Planning Board members gave positive reviews to a 12-acre project dubbed “West Side Yards” by its developers, Torrington Properties Inc. and Waterstone Properties Group Inc., at a Jan. 24 meeting designed to give feedback on the project before any formal submittals are made. The project would feature 250 apartment units split between two buildings, 23 condominium townhomes, 22,000 square feet of office space and 22,000 square feet of retail space, including a “food and beer hall” that opens onto a plaza facing one of the rental buildings. The site is near Portsmouth’s Music and Arts Center and the retail center along the southern end of Portsmouth’s Islington Street as it approaches the Route 1 bypass. The project is the first to test the city’s new “gateway” zoning, according to Torrington Properties principal Jay Bisognano. “This development has been a significant learning process,” he told the board in January. “It’s still not clear to our team on the city’s vision; however, we think we’ve come up with a great plan.” City officials have asked Bisognano to make more than 10 percent of the project’s units affordable under Portsmouth’s workforce housing zoning. However, Bisognano told the Planning Board that his team concluded any more than that would not be financially feasible without adding staff to his firm who specialize in affordable housing finance.
INDEX REAL ESTATE RECORDS PG COUNTY
TRANSACTIONS THRU
3 Belknap ���������������������������� 02/12/19 3 Carroll ���������������������������� 02/12/19 4 Cheshire ������������������������ 02/12/19 4 Coos �������������������������������� 02/12/19 4 Grafton ���������������������������� 02/12/19 5 Hillsborough ������������������ 02/12/19 6 Merrimack ���������������������� 02/12/19 7 Rockingham ������������������ 02/12/19 8 Strafford ������������������������ 02/12/19 9 Sullivan �������������������������� 02/12/19 9 Bankruptcies 9 Lien & Attachments 10 Foreclosure, Mortgagee & Other Lien Auctions 10 Requests for Bids & Proposals
Each unit will cost roughly $250,000 to build, he said, for a total cost to Torrington and Waterstone of $6.75 million to build the 27 affordable units, priced for residents making 80 percent of the area median income. To cover the cost of the units, Bisognano said his team will be asking the city for a 12.5 percent density boost. The site’s zoning limits projects to 20 units per acre and 24 units per building. Bisognano’s project would have 22.5 units per acre, with 134 located in one building and 116 in another. An as-of-right design he included in his presentation to the board featured a checkerboard-like arrangement of small, 3-story residential buildings surrounded by parking lots. “I’m looking for a long-term commitment on the workforce housing. That would be the tradeoff for me,” said Planning Board member Elizabeth Moreau. This is not the first time Bisognano and the West Side Yards have been before the Portsmouth
Planning Board. In October 2018, city officials panned an earlier version of the project for being too dense, among other concerns. The newest design is a full story shorter, Bisognano said. “I think we’ve come to a place where the tradeoffs make sense to the community and make sense to you,” said Rebecca Perkins, the City Council’s representative on the board. In addition to the community space in the project’s central “square,” the project design also calls for a community path and a new city street along a brook that forms the northern border of the site. Seating and a planted buffer would be installed along the brook. “I can see biking that area with my kids,” said Planning Board member Jay Leduc. “I like it, I think it’s great. I look what’s there today and can’t wait for it to be changed.”
Email: jsanna@thewarrengroup.com
New Hampshire Market Statistics
Rye 50 BRACKETT RD. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $830,000 B: Victory Marvin & Conrad Bastable S: Mark H Roaman & Laura C Roaman Use: 4 Bdrm Cape Cod, Lot: 184694sf
Torrington Properties and Waterstone Properties Group plan a 250-unit, 12-acre complex dubbed “West Side Yards” near a busy arts and entertainment district near Portsmouth’s Route 1 Bypass.
TO OUR READERS
Single-Family Sales By Month
T
he Registry Review has for many years been a terrific source of
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real estate data in New Hampshire,
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more. The newspaper now features
but it has the potential to be much articles from the staff of The Warren
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Group, publisher of The Registry Re-
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view; news briefs from real estate and
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state; and analytics from The War-
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financial institutions throughout the ren Group’s proprietary data prodJan. Feb. Feb. March Mar. April Apr. May May June Jun. July Jul. Aug. Aug. Sept. Sept. Oct. Oct. Nov. Nov. Dec. Dec. Jan. Jan. Jan. ’18
’19
Number 1200 of 1,200 Sales
Number of Sales
1000 1,000 800 800 600 600 400 400
200 200 00
Jan. Jan. ’14
Jan. Jan. ’15
Jan. Jan. ’16
Jan. Jan. ’17
Jan. Jan. ’18
Jan. Jan. ’19
Jan. 2014 Jan. 2015 Jan. 2016 Jan. 2017 Jan. 2018 Jan. 2019
643 725 881 1,008 965 787
Change Prior Year -0.77% 12.75% 21.52% 14.42% -4.27% -18.45%
q Statistics based on single-family home sales of $1,000 q Source: The Warren Group
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ucts. We invite readers to submit their news, feedback and story ideas to us at editorial@thewarrengroup.com. Sincerely, Cassidy Murphy Associate Publisher