Developers hoping to build about 650 housing units on 95 acres near the Concord Monitor building have taken an option on 40 more acres located between the project area and the new Merchant’s Way development and Wheelabrator trash-to-energy plant.
“The development team is studying different potential uses for the additional 40 acres,” the group said in a statement.
The 40-acre property abuts the southern end of the Wheelabrator and Merchant’s Way properties, near Exit 17 of I-93, and would be reached through a proposed extension of Whitney Road. It is owned by the Concord Regional Solid Waste Cooperative, a collection of towns and cities that built the power plant in the 1980s and maintains a contract with Wheelabrator Concord Co. for the plant’s operation.
The proposed project on the 95 acres along the east bank of the Merrimack River, called Monitor Way, involves what developers call an urban village featuring business, retail and housing in the form of apartments and townhomes. The proposed purchase from Newspapers of New England, the Monitor’s parent company, is under contract but not completed. The Monitor building is not part of the sale.
The developers also announced that developer Mike Dion has joined New England Family Housing CEO Kevin Lacasse and William & Reeves CRE principal Deane Navaroli on the partnership team for the development.
Dion is the founder and chairman of Metro Walls, a commercial framing and drywall company. He recently sold it and three other companies for an undisclosed sum.