Mayor Jones is proposing a horse trade. And the trade is to be made in Manchester.
The proposed deal that has been struck by the City Administration and Fountainhead Properties’ South Canal, LLC is to occur just West of Hull Street at the foot of The Mayo Bridge. And it could lead to at least two 16 story towers, perhaps more. The deal as explained to me, and from what I could read about the project, is comprised of the following components:
- The City will trade a 1.1 acre sub-parcel of City owned land to South Canal, LLC at a value appraised at $260,000. The value for this land is justified at such a low amount despite being riverfront property because it is viewed as inaccessible due to a clouded easement across South Canal LLC’s parcels.
- South Canal, LLC will agree to fix the city owned bridge at an estimated cost of $800,000, thereby providing automobile and emergency vehicle access to the South Canal development.
- The property will be rezoned from RF1 to B-4C to enable larger towers than could otherwise be built with the existing zoning. The proposed tower(s) are to be no larger than 16 stories. This new zoning enables the towers to accommodate somewhere between 400-600 units and would allow for river and city views above the existing 40 foot high flood wall.
The full details for the proposal can be found in the attached documents:
At first glance, the proposed development of the property does not appear to conflict with the City’s Riverfront Development Plan. The plan clearly shows development at the “South Canal Lofts” and is silent on what should be done with the City owned property proposed to be traded to South Canal, LLC (gray area to the left).
The property would increase real-estate tax collections for the City which is desperately needed for schools, infrastructure, and countless other city services. The project would also add more housing in Manchester on a parcel that is currently an eyesore. With that having been said, I suspect some will take issue with such large towers, especially those whose river/city views will be impeded by the proposed structures.
The proposal is scheduled for an October 10th, 2016 City Council Public Hearing Date at 6PM. So folks, what do you think?
Vote: Are You In Support of City Proposed Horse Trade Enabling 16 Story Riverfront Towers in Manchester?
- Yes (77%, 280 Votes)
- No (23%, 86 Votes)
Total Voters: 366