Saturday, December 20, 2014
My Account  | Login
Nashua;33.0;http://forecast.weather.gov/images/wtf/small/ovc.png;2014-12-20 19:23:02
Monday, August 18, 2014

Nashua preparing to sell off Broad Street Parkway surplus properties

NASHUA – After acquiring vast swaths of land for the Broad Street Parkway, Nashua is looking reduce its property holdings by selling off a dozen parcels that are no longer needed for construction of the two-lane road.

Mayor Donnalee Lozeau is asking Nashua aldermen to approve putting a dozen surplus properties up for sale. Many of the properties were taken by eminent domain, but as the design of the parkway changed, they were no longer in its path. ...

Sign up to continue

Print subscriber?    Sign up for Full Access!

Please sign up for as low as 36 cents per day to continue viewing our website.

Digital subscribers receive

  • Unlimited access to all stories from nashuatelegraph.com on your computer, tablet or smart phone.
  • Access nashuatelegraph.com, view our digital edition or use our Full Access apps.
  • Get more information at nashuatelegraph.com/fullaccess
Sign up or Login

NASHUA – After acquiring vast swaths of land for the Broad Street Parkway, Nashua is looking reduce its property holdings by selling off a dozen parcels that are no longer needed for construction of the two-lane road.

Mayor Donnalee Lozeau is asking Nashua aldermen to approve putting a dozen surplus properties up for sale. Many of the properties were taken by eminent domain, but as the design of the parkway changed, they were no longer in its path.

Once envisioned as a four-lane highway, the parkway has been scaled back to a limited-access, two-lane road. It will link Broad Street with Nashua’s downtown via a new bridge over the Nashua River.

Under the eminent domain process, properties needed for public projects, such as roads, must be sold to a city, town or state for the project. Appraisers set a fair market value for the sale price. Property owners can file a court appeal if they think the price is too low, but by law, they can’t outright refuse to sell.

If the city puts the properties on the market once again, the previous owners will have the right to buy them back at the original purchase price, unless 10 years has elapsed since the transaction.

However, the city will have to track them down first. Some properties were purchased from real estate companies. In other cases, a significant amount of time has passed.

If the owners can’t be found or too much time has gone by, the city will have the parcels appraised and listed on the market.

The grouping includes six properties in the Tree Streets neighborhood that sold for a combined $750,000 when the city acquired them from various owners over the years. Also on the list is a building at 82 Pine St. used currently by the police department.

One of the most expensive acquisitions was the land at 1 Pine St. Extension, which was purchased from NIMCO Real Estate Association for $1.2 million. The city paid an additional $130,000 and $615,000 for nearby properties at 21 Pine St. Extension and 7 Pine St. Extension that were also taken by eminent domain.

Any money raised through sales of surplus property must go back into the parkway project, since the properties were obtained using federal funds.

The Board of Aldermen took up a resolution designating the parcels as surplus property for a first reading last week. It is expected to be vetted by a committee before going back to the full board for final approval.

Jim Haddadin can be reached at 594-6589 or jhaddadin@nashua
telegraph.com. Also, follow Haddadin on Twitter (@Telegraph_JimH).