Early plan for 216-unit housing complex pitched in LondonderryBy Chris Garofolo
Union Leader Correspondent
December 15. 2017 12:10AM
LONDONDERRY — An Indiana-based developer has presented conceptual plans this week to the Londonderry Planning Board for a 216-unit workforce housing project on Perkins Road.
Representatives from Pedcor Investments of Carmel, Ind., were on hand for the board’s Wednesday meeting to review preliminary phasing requirements for the complex, designed on 29 acres and titled the Apple Orchard Apartment Homes.
As workforce housing, the maximum allowable rents after utility allowances (in 2017 figures) would be $1,055 monthly for a one bedroom; $1,267 for a two-bedroom and $1,462 for a three-bedroom, according to the project statistics.
The company, which develops, constructs and manages affordable housing communities, predominately in the Midwest and western states, reports workforce housing in a 200-unit development on average creates 244 local jobs in the first year and 60 in the community over the long-term, generating $15.8 million annually in local income.
In Londonderry, Pedcor estimates an annual real estate tax of $500,000 a year.
“Workforce housing is commonly targeted toward low to moderate income ‘essential workers’ in a community, i.e. police officers, firemen, teachers, nurses, medical personnel and service workers, those with disabilities as well as retires who wish to remain in the communities for which they have served much of their careers,” according to the Pedcor 28-page package presented to the Londonderry board.
The town planning offices say Pedcor has not filed anything yet and the discussions on Wednesday night with the board were non-binding.
Pedcor representatives were also seeking a waiver to allow more than the yearly allotment of 72 permits, a move that was met with a lukewarm response from the Planning Board.
According to the Pedcor plans, the complex would be completed over two phases.
The first would include six buildings and a clubhouse area that would include a business center, fitness center, media room and pool, for which they would anticipate a certificate of occupancy to be issued within one year after the building permit issuance.
The second phase would complete the project with the final six buildings within the second 12 months of the building permit.
Pedcor’s plans for the 216 units at 71 Perkins Road would require applicants to use a standardized screening criteria for housing and has a no tolerance drug policy.