Gov. Chris Sununu said developers have until April 22 to complete the $21.5 sale of the former Laconia State School property or the state will move on to seek other offers. Here the lead developer, Robynne Alexander, pointed out detail of another project she led to develop workforce housing on Elm Street in Manchester.
Gov. Chris Sununu and state officials said developers have until April 22 to complete the $21.5 million purchase of the former Laconia State School property or the state will seek other willing buyers. Here's an architectural rendering of the Legacy at Laconia LLC project.
Gov. Chris Sununu and state officials said developers have until April 22 to complete the $21.5 million purchase of the former Laconia State School property or the state will seek other willing buyers. Here's an architectural rendering of the Legacy at Laconia LLC project.
CONCORD — Gov. Chris Sununu and top state officials said April 22 is “put up or shut up time” for the firm chosen to buy the former Laconia State School property for $21.5 million to complete that sale or they will seek other redevelopment offers.
Administrative Services Commissioner Charles Arlinghaus and Sununu said it both made sense to give the Legacy at Laconia group another 30 days to recover the financing it had lost when a previous lender agreement expired at the end of February.
“To be fair we have given the potential buyer 30 days to put up or shut up,” Arlinghaus told the Executive Council.
Sununu said there was broad agreement among state officials to give the delay of the purchase and sale.
If the deal falls through, Sununu said he’s confident another request for proposals would identify a different willing buyer for the property before he leaves office at the end of this year.
“It is a much more complete, robust package than it was even a few months ago,” Sununu said.
The deal is so favorable to the state that it makes sense to give developers one more chance to financially make it work.
“We could have on the 13th (of March) (said) ‘To heck with you,’” Arlinghaus said.
Last Friday, Sununu and Arlinghaus sent the developers a letter giving them 30 days to complete the transaction.
Developer given $3 million grant
Politically, the heat was turned up Wednesday after Executive Councilor Janet Stevens, R-Rye, pointed out the state gave the lead developer, Robynne Alexander, a $3 million InvestNH grant in 2022 to build 15 workforce housing units in downtown Manchester.
Stevens claimed some employees were given preferences to secure housing in the project.
“We need to keep a closer eye on this,” Stevens said.
Arlinghaus responded, “That is not remotely related to this.”
Gov. Chris Sununu said developers have until April 22 to complete the $21.5 sale of the former Laconia State School property or the state will move on to seek other offers. Here the lead developer, Robynne Alexander, pointed out detail of another project she led to develop workforce housing on Elm Street in Manchester.
DAVID LANE/
UNION LEADER
Alexander has faced a bevy of controversies regarding other projects, the latest a recent foreclosure on two Gilford properties she had agreed to pay $2.5 million for in August 2022; the property is scheduled for auction next month.
In November 2022, Executive Councilors Ted Gatsas, R-Manchester and David Wheeler, R-Milford, had opposed selecting this development group after it offered more than double the bids from three competing firms.
The project scope was far more ambitious than any other with 1,800 housing units, a 250-room hotel, medical offices, retail offices, a conference center and child care facilities. Alexander has altered initial plans, including reducing the number of housing on site.
Citing past lawsuits, unpaid taxes and foreclosures of other projects, Gatsas predicted this development group would never be able to complete financing to close the deal.
Sununu praised state officials for diligent oversight of the negotiations that included moving a snowmobile trail that went through the property along with securing environmental permits needed for development to go forward.
“We will move quickly to additional options, I promise you that,” Sununu said when asked what the state’s response would be if the latest deadline comes and goes without an agreement.
