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Lot riding on Bridge Street revitalization hearing

By Staff | Apr 11, 2013

It’s not every day that community leaders have an opportunity to transform a gateway into the downtown from an eyesore into a vibrant neighborhood with public recreation along the riverfront.

And generate millions of dollars in new tax revenue each year to boot.

But that is exactly the opportunity facing Nashua officials as they prepare to enter the permitting process for a joint venture with one of the nation’s premier developers of small-city downtowns.

On Thursday night, the Planning Board will consider a joint site plan application from the city and Renaissance Downtowns LLC for the construction of 228 market-rate apartments, a 50-seat waterfront restaurant and a community center on nine acres at 70 Bridge St. The meeting begins at 7 p.m. in the City Hall auditorium.

The exciting proposal represents the initial phase of a public/private partnership between the city and the New York-based developer to revitalize 26 acres along Bridge Street adjacent to the Taylor Falls Bridge, which serves as the eastern gateway to the city from Hudson.

Upon completion, this new mixed-use neighborhood would consist of rental housing, outdoor dining, shopping, open space, parking and a marina along the Merrimack River. The project would be developed in phases.

Thursday night’s public hearing culminates a process that began early last year with Renaissance’s creation of Visualize Nashua (http://visualizenashua.com), an interactive website that encouraged the public to suggest and vote on ideas for this project and for downtown Nashua in general. Several of those suggestions – including a riverside promenade and a community fire pit – have been incorporated into the final design of the Bridge Street development.

While we are eager to learn more at the hearing, there appears to be at least three major benefits to this ambitious project:

• It would transform this underutilized parcel into
a destination for dining, shopping and outdoor recreation.

• It would generate more than $2 million a year in tax revenue for the city, create 300 construction jobs, 200 permanent jobs and $60 million in retail sales, according to Renaissance’s projections.

• And it would spark further commercial development along East Hollis Street.

As it turns out, even talk of the development served as a catalyst for the city to move ahead with its decade-old plan to build a roundabout to ease traffic congestion at the intersection of Bridge and East Hollis streets.

Last week, the Executive Council authorized the use of $2.8 million in federal funds for the design and construction of the roundabout. The remaining $700,000 for the project would come from matching city funds.

No doubt, there will be obstacles along the way, including the need to move the Bridge Street skate park to another location. (Coincidentally, the first meeting of the newly formed Skateboard Park Relocation Board also will convene Thursday at 7 p.m. at City Hall.)

There may even be some opportunities for Planning Board members to improve upon the plan.

But make no mistake: This may be a once-in-a-lifetime opportunity to breathe new life into an entryway to downtown Nashua, one that our city leaders can’t afford to squander.

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