Railroad Land - Keene, NH
The Railroad Land in the heart of downtown Keene is a multi-phased redevelopment project based on a series of the city's Master Plans which expressed the desire to create a new neighborhood on east side of downtown.
The vision for this project is to have commercial office and retail space, a hotel, as well as senior housing, high-end residential housing condominiums, and market rate rental units, some fully accessible. This redevelopment and revitalization project promises to assist traditionally underserved people in the Keene area by creating jobs, providing better access to services and offering availability of affordable housing.
In 2005, MEDC was awarded (by the city of Keene) the redevelopment of this blighted six-acre site in the heart of downtown Keene known as the Railroad Land. In 2006, MEDC purchased the site from the city, who in turn used those funds to rebuild a broken storm drain to abate flooding for the downtown area up through Central Square. Meanwhile MEDC worked, as Railroad Land Development LLC, to define the environmental issues on the site and remedy the contamination on the site.
Phase I of the Railroad Land redevelopment project has evolved to include a mixture of not-for-profit and for-profit entities consisting of a Courtyard by Marriot, Keene Senior Housing, Southwestern Community Services, First Course and Railroad Street Condominiums and office space at 51 Railroad Street, with Cheshire Medical Center occupying the second floor.
As of 2012, Phase I of the project is complete: five buildings containing 167,000 square feet of total space, with the creation of 75 new jobs, 24 new apartments for low income seniors, 8 new units of high end residential condominiums and office space for sale or lease. Total Phase I investment is roughly $31,750,000 by way of a multitude of loans and grants.
Phase II of the Railroad Land project revolves around the Monadnock Food Co-op, a 13,000 square foot community-owned marketplace scheduled to open in early 2013. Phase II also includes additional infrastructure improvements to streets and sidewalks, with total investment of approximately $10,900,000.
Phase III of the project, with an investment of some $15 million, will include the construction of market-rate rental housing and additional public infrastructure.
Click the image above to see a full-sized PDF file for the Phase I Railroad Land development.
tel: (603) 352-4939
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