TROY MILLS UPDATE
From the Issue:March 2012
It was a very active 2011 in terms of environmental work at the mill. Using a combination of funding provided by the DES/EPA under the Resource Recovery Act and supplemental funds from Troy Mills Developers, we were able to complete all of the data collection and most of the remediation proposed in the Remedial Action Plan for the site. Much of the work consisted of evaluating groundwater quality conditions as well as collecting soil and sediment samples.
The most visible activities and major accomplishments were construction of the parking lot base over the former debris disposal area, and soil remediation followed by demolition of the loading dock/structure attached to the high bay along Mill Street. These were significant environmental and redevelopment activities necessary to continue the process of placing the site back into sustainable re-use.
Spring is right around the corner and with it is a surge in the construction and development industry. Multifamily housing starts are rising and vacancy rates are at a ten year low!
Most importantly the financial markets are starting to make funds available again for development projects and Troy Mills is positioned as an environmentally clean shovel ready project.
Last year, Troy Mills Developers (TMD) and the Troy Redevelopment Group (TRG) began directly working with the New Hampshire Department of Economic Development (NHDED) to get the Troy Mills site targeted by the State for redevelopment. The NHDED has made specific recommendations to enhance the marketability, including designating the site as a New Hampshire Economic Revitalization Zone.
As a result of NHDED recommendations we have worked with them as a team to adapt the current site plan to be more in alignment with the present economic times. The NHDED recommendations include additional demolition creating future pad sites, creating stand alone buildings, subdividing the stand alone buildings into individual saleable parcels.
The adapted plan anticipates phase one, the Wood and Brick Mill on Monadnock Street, stays the same as residential units.
The east mill on the corner of Mill and Monadnock Street would become a smaller stand alone building. This location has a completed full market study that demonstrates the location is excellent for a 12,000-15,000 square foot grocery store. We presently have interest in the site as a grocery store.
The west side power house building has a developer interested in opening a movie theater that shows second run films and serves food when the site development is under way.
The old horse barn building is being marketed for retail space or a restaurant.
The block building over the river is to be demolished, leaving the slab over the river. The slab will have soil placed on top then planted with grass and potted trees. This will remove the unsightly block building and create green space that becomes a future pad development site when the market demand for the space arises.
The large yellow metal high bay building on Mill Street will be used for light industrial or retail use. This use plan alignment allows for more flexibility and the ability to move ahead on individual buildings without being tied to a one large complex development.
An updated plan presentation will be held prior to the town meeting at 6:30 pm March 14, 2012.