Senior housing project proposed for DerryRYAN LESSARD
Union Leader Correspondent
September 19. 2018 8:57PM
DERRY — After hearing plans Wednesday by Lifestyle Homes developers to build 30 single-family homes for people 55 and older, the Planning Board decided to schedule a site walk on Sept. 29 and to continue the hearing on Oct. 3
Developer Dana Redmond said the project, located at 42 Tsienneto Road, would cost an estimated $11 million to build and includes the cost of the land and site work.
The project will be called Villages at Oakwood.
Each home will be a single-story building with two bedrooms priced around $350,000 each, Redmond said.
Assuming it gets Planning Board approval, Redmond said work on the project would begin soon.
“We hope to start excavation late this year and then actual building in springtime,” Redmond said.
Redmond has a development in Chester called Villages at Chester, which is a neighborhood of two-bedroom duplexes that are not age-restricted.
He said he sees a lot of demand for housing for folks 55 and older looking to downsize. Even though the Chester development is not age-restricted, he said a majority of the buyers there are in that older age group.
The benefit of having the age restriction in Derry is the town allows for higher density. Without the age restriction, Redmond said he would only be able to build 20 houses.
In the medium density residential zone the project falls within — and because it will connect with town water and sewer — Redmond is able to build 1.5 times the normal density limit, according to Town Planner George Sioras.
The rules are written with that incentive, Sioras said, because 55-and-older residential areas tend to be more revenue positive for the town.
Sioras said there will be 18.5 acres of designated open space in the neighborhood.
The development will have two new streets named Myles Drive and Lilly Lane, named after Redmond’s grandchildren.
Redmond plans to start selling homes by the end of 2019.
Eric C. Mitchell and Associates of Bedford is contracted to do the engineering work.