'Cornerstone' for downtown development on the way

Discussion

Welcome to our online comments feature. To join the discussion, you must first register with Disqus and verify your email address. Once you do, your comments will post automatically. We welcome your thoughts and your opinions, including unpopular ones. We ask only that you keep the conversation civil and clean. We reserve the right to remove comments that are obscene, racist or abusive and statements that are false or unverifiable. Repeat offenders will be blocked. You may flag objectionable comments for review by a moderator.

comments powered by Disqus

October 16, 2006

By Mike LaBella The Eagle Tribune Mon Oct 16, 2006, 11:56 AM EDT

HAVERHILL - After much talk, 146 apartments are on their way to downtown in what the mayor calls the biggest push to making the heart of Haverhill a combination of residences and businesses.

Tomorrow the Beacon Communities company will host a groundbreaking for The Cordovan at Haverhill Station. It is a $38.8 million project that will turn the historic Haverhill Board of Trade Building into one- and two-bedroom rental units in a variety of styles, including "loft" apartments with open-floor plans.

The project is the largest of several apartment and condominium developments in the works for downtown that will bring more than 600 units to old factory buildings, altering the city center.

The Beacon groundbreaking ceremony will be at 3 p.m. at 15 Locust St., the entrance to the apartment building, and will be hosted by the developer.

"This is a very important development, a cornerstone development for the new downtown," Mayor James Fiorentini said. "We hoped this would be a catalyst for the Haverhill renaissance, and it appears that it is."

Jason Korb, development director for Beacon Communities, has said the building will offer a mix of uses. The ground and first floors will be converted into 20 duplex units, 15 of which will be designed specifically as home occupation space in which small-business owners such as chiropractors, craftsmen, attorneys or financial planners can operate.

Residents and patrons will access these units directly through entrances in the courtyard or on Walnut Street, Korb said, and the courtyard will contain a small park in the form of an urban square around which limited traffic will flow as a pick-up/drop-off route.

The Board of Trade Building was built between 1906 and 1908 as a place to house small firms associated with the shoe industry. The building was most recently home to Cabot House Furniture. The site is nominated to be listed on the National Register of Historic Places.

City Planning Director William Pillsbury said the renovation project has made good progress before the ceremonial groundbreaking, including the installation of new windows, connections to city utility lines and establishing a parking area for residents of the building.

"There will be more work to do around the perimeter of the building, including sidewalks, trees and general landscaping," Pillsbury said. "The character of the building will change. It will be a major transformation of this area."

Pillsbury said other smaller development projects in the downtown have already taken place, but this is one of the largest yet.

"We really believe that Beacon's being here has been a catalyst for additional growth and a symbol of what Haverhill has to offer," Pillsbury said.

Korb said he expects the first apartments to be available for rent in January.

Of the total units, 40 percent, or 61 units, will be affordable to households earning 60 percent or less of the area median income, Korb said. The affordable unit rents will range from $720 to $880 depending on the unit size. The market rate unit rents will range from $1,000 to $1,450 depending on the unit size.

Korb said restoration of the exterior will retain the building's historic features as much as possible.

Items such as replacement windows and doors will be carefully chosen to closely resemble those of the original building, and original fixtures will be saved to the extent possible.

The building's interior will be transformed into modern luxury apartments, but it will still retain many of its historic features, including where possible exposed columns, floors and brick walls, Korb said.

Due to its closeness to downtown businesses and transportation options, The Cordovan at Haverhill Station is considered an excellent example of smart-growth, transit-oriented development, planners say.

Beacon Communities estimates the development will generate about $100,000 in annual real estate taxes, more than $700,000 in permits and fees for the city, $650,000 in annual spending at local businesses and create 75 construction jobs and five permanent on-site jobs. In addition, the inclusion of 15 home occupation units will immediately generate new businesses and provide entrepreneurs with a resource to help start their businesses.

PG1 BOX

Downtown developments

Beacon Companies: 146 apartments at 16 Walnut St.

Lotus Realty: 61 condos at 104 Essex St.

Forest City Enterprises: As many as 300 apartments at 113 Essex St.

Franchi Management Inc.: 53 condos at 66 Washington St.

Merrimack Towers: 136 condos at 31-35 Railroad Ave.

Beacon Companies: 32 artist loft apartments at 25 Locust St.

JUMP PG BOX

Cash, jobs to the city from Beacon

$100,000 in annual real estate taxes

$700,000 in permitting and other fees