MANCHESTER, NH – The Manchester Development Corporation (MDC) has purchased the property located at 23 Amherst St., and plans to solicit partners to redevelop this blighted, vacant building.
“The Manchester Development Corporation has a very good record with these types of projects and is excited by the opportunity to help revitalize this blighted property in the heart of downtown Manchester” said Joseph Wichert, Chairman of MDC. “As a Board charged with facilitating the best and highest use of Manchester’s assets, we look forward to being a partner on this project, adding to the commercial tax base of the City and improving the area.”
To initiate the redevelopment of the building, on February 15, 2016, the MDC will release a Request for Partnerships (RFP) seeking proposals to renovate and operate the building as a venue for live music, theatre, movies, community and private events or any other use that would improve the area.
Background
Following an affirmative vote by the Board of Mayor and Aldermen (BMA) on July 7, 2015, MDC entered into an agreement to purchase the property located at 23 Amherst St. for $412,500 [see agreement below]. Under the terms approved by the BMA, the MDC and/or eventual owner/operator will continue to pay property taxes. The building was purchased solely with MDC funds which are separate and distinct from City funds, and come at no cost to Manchester’s taxpayers.
MDC investments have helped finance the rehabilitation of other important downtown landmarks such as the Chase Block, Dunlap building and McQuades building as well as the expansion of Benefit Strategies on Elm Street. MDC financing was also critical to the development of the Hilton Garden Inn and the rehabilitation of the La Quinta Inn and Suites. For more than a decade, MDC owned the parcel located at 1200 Elm Street and played a major role in the development of The Residences at Manchester Place. Recently, MDC facilitated the sale of a gateway parcel on Granite Street, on the City’s Westside, where construction of Giorgio’s Restaurant is underway.
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