Massive redevelopment proposal in Laconia

NH Business: $500 million redevelopment proposal in Laconia

Host Fred Kocher is joined by Annmarie Timmins to break down the massive redevelopment proposal for the former Laconia State School.



PURSUE. I AM FRED COKER. YOU ARE SEEING AN IMAGE OF A 2220 acre property with multiple buildings overlooking Lake Winnisquam in LACONIA that was formerly home to the LACONIA ESTATES SCHOOL. IT IS NOW THE SITE OF A HUGE $500 MILLION REDEVELOPMENT PROPOSAL THAT MY GUESTS AND I WILL TALK ABOUT IN A MINUTE. LACONIA STATE SCHOOL CLOSED AFTER EIGHT YEARS IN 1991, A RESIDENTIAL CAMPUS. YOU HAVE UP TO THOUSAND PEOPLE. AT ONE POINT WERE DEVELOPMENTAL DISABILITY AND A PRISON. FOR A TIME, 220 Acre BUILDINGS OVER THE LAKE OVERLOOKING LAKE WINNISQUAM PLANNED BY THE GOVERNOR EXECUTIVE COUNCIL FOR $21.5M ON DECEMBER 21 NOW HERE IS THE PROPOSED REFURBISHMENT. SUMMARY TYPES OF RESIDENCES FOR ALL AGES FOR WORKERS A LARGE RESORT AND THOUSANDS CONFERENCE CENTERS COMMERCIAL PROPERTIES, RETAIL SPACE AND SPORTS CENTER NATURE TRAILS AND SO ON. TALKING TO ME HOW THIS ALL BEGAN IS A JOURNALIST WHO IS ANNE MARIE TIMMONS, A SENIOR REPORTER FOR THE NEW HAMPSHIRE BULLETIN, AND WHO IS AN INDEPENDENT PART OF A NETWORK OF NEW HAMPSHIRE NEWS OFFICES. AND, ANNE MARIE, WELCOME. LIKE ME, YOU WORKED FOR A TIME FOR THE CONCORD MONITOR AND TEACHED JOURNALISM AT THE U. AND H. 25 YEARS AT THE MONITOR. HAVE YOU REPORTED THIS IN DETAIL FOR A YEAR OR MORE? THE STATE HAS BEEN TRYING TO DO SOMETHING WITH IT FOR 25 YEARS. WHAT DID IT FINALLY HAPPEN? I think the governor was getting impatient. I HAVE SEEN A BOOMING REAL ESTATE MARKET TO CHANGE THE LAW THROUGH THE LAST BUDGET TO GIVE YOURSELF AUTHORIZATION TO SELL WHICH, YOU KNOW, MAKES IT A MUCH FASTER PROCESS. AND I THINK HE JUST WANTED TO MAKE IT. AND HE SEEMS TO HAVE MOVED IN THAT DIRECTION. YES, A HIGH QUALITY GROUP LEAD BY FORMER NEW HAMPSHIRE OFFICER FOR RESOURCES AND ECONOMIC DEVELOPMENT GEORGE BAULD. THEY HAVE ALREADY WORKED FOR FIVE YEARS TO DEVELOP, OR AT LEAST GET, THIS PIECE OF A PLOT OF LAND READY FOR DEVELOPMENT. BUT THEY COULD NEVER FINISH THEIR WORK. THAT’S RIGHT. THEY WERE ART SET AWAY BY THE GOVERNOR’S PLAN TO SELL IT MYSELF. AND SO YOUR WORK I THINK HAS REALLY AND FASHIONALLY DEFINED THE PLAN THAT COMES FORWARD. YES THEY HAVE LOOKED AT EVERY BUILDING, ALL THE REASONS THEY KNOW, INTERESTS, IMAGE NEEDS AND THE PLAN THAT WAS PRESENTED IS ONE THAT THEY ESSENTIALLY SAID THAT THIS PROPERTY WOULD BE A GOOD USE. SO WORK NOT FINISHED BUT IT WAS OF INVALID VALUE. YES. I’M SURE. I AM SURE IT HAS. NOW IS AN INTERESTING QUOTE FROM THE EXECUTIVE BOARD OF GOVERNORS. THE COUNCIL DID APPROVE THIS PROPOSAL ONLY IN DECEMBER. JOE KENNY WHO APPROVED AND THIS IS IN HIS DISTRICT THE RATE DISTRICT HE APPROVES THE DEVELOPMENT BUT APPEARS WITH SOME INSPECTION I WOULD THINK WITH THIS QUOTE WE DON’T KNOW WHAT WILL COME FROM IT AS WE TRAVEL THEM ON THIS DEVELOPMENT PROJECT THE DOWN YELLOW BRICK ROAD. I hope we get to the Emerald City. WHAT DO YOU THINK THAT MEANT? I THINK COUNCILOR KENNEY WAS A HUGE SUPPORTER OF THIS PROJECT. HE WAS INVOLVED IN REVIEWING OTHER PROPOSALS. AND SO IT FEELS GOOD GOOD, I THINK. BUT HE RECOGNIZES THAT SOME OF HIS RATES DON’T. AND SO THINK HE’S TRYING TO RECOGNIZE YES WE MIGHT HAVE A PROBLEM BUT LET’S GO AHEAD. WHY STOP NOW? Well the proposal, a developer I assume didn’t have a financial background check, at least that’s what you reported. IS THAT TRUE? THAT’S RIGHT. I BELIEVE I HAVE DONE THE FINANCIAL BACKGROUND CHECK AND THERE IS A CONCERN. AND OUR VIEW THERE SINCE A COUPLE OF COUNCILS. CORRECTLY. THIS DEVELOPER DOES NOT HAVE THAT KIND OF EXPERIENCE. WE DON’T KNOW WHERE SHE WILL FIND THE MONEY. AND ONE OF THEIR PARTNERS LOST HIS SENIOR HOME IN 2017 IN BANKRUPTCY, HE AND THE COUNSELORS SIMPLY DIDN’T KNOW ABOUT IT. YES. AND I WOULD SAY THAT THE OUTFIT I MENTIONED ABOVE IN THE INTERVIEW, CBRE AND NEBULOUS COMPANY ARE NOT THE BUYERS. YOU JUST FOUND THE BUYER, RIGHT? TO THE RIGHT. ANY DATE TO START? NO DATE FOR INCLUDED DATE. FOR AN OUTSIDE CLOSURE WOULD BE SEPTEMBER THIS YEAR. BUT WE HAVE NO FIXED DATES. YES SIR. MY THANKS TO YOU AND MARY TIMMINS FOR THIS BRIEFING ABOUT THIS MASSIVE LAKE REGION DEVELOPMENT PROJECT. ANNE-MARIE TIMMINS, SENIOR REPORTER FOR THE NEW HAMPSHIRE BULLETIN. THANK YOU FOR GOING BY US. SECURE. THANKS. IF YOU MISSED A PART, YOU CAN GO TO ANY RESULT

NH Business: $500 million redevelopment proposal in Laconia

Host Fred Kocher is joined by Annmarie Timmins to break down the massive redevelopment proposal for the former Laconia State School.

Laconia State School closed in 1991, leaving 220 acres of buildings overlooking Lake Winnisquam vacant. It was sold by the governor’s executive council on December 21 for $21.5 million. Now a proposal is in the works to remodel the unused space. In the latest episode of NH Business, host Fred Kocher is joined by Annmarie Timmins, senior reporter at the New Hampshire Bulletin, to break down the development of the proposal, concerns about the proposal moving forward and the impact it could have for New Hampshire .

Laconia State School closed in 1991, leaving 220 acres of buildings overlooking Lake Winnisquam vacant. It was sold by the governor’s executive council on December 21 for $21.5 million. Now a proposal is in the works to remodel the unused space.

On the latest episode of NH Business, moderator Fred Kocher is joined by Annmarie Timmins, senior reporter at the New Hampshire Bulletin, to break down the development of the proposal, concerns about moving forward with the proposal, and the potential impact on New Hampshire.

Source