Image courtesy of Studio Nexus
The CEO of Lebanon property management firm Ledgeworks is hoping to revive a struggling commercial property in the Upper Valley city’s center with the addition of 152 apartments.
The proposal from Recreo LLC, controlled by Ledgeworks CEO Timothy Sidore, would see two 6-story buildings built on either side of the 1970s-era Village Market retail property that sits just behind Lebanon’s fire station.
The steeply-sloping lot currently also holds a restaurant, the Sunrise Buffet, that would be demolished under the plan. The 2-story Village Market building at the site’s heart will remain, but a letter from project architects Studio Nexus, of White River Junction, filed along with the proposal state the dated, cinderblock retail structure will eventually be redeveloped once the apartments are built in two phases. The building is half-leased, Studio Nexus’ letter said.
Split between 148 studios and 4 one-bedroom units around 450 square feet in size, the buildings would come with limited parking: 100 units for tenants to use on evenings and weekends on a to-be-leased private lot next door, along with 99 on-site that will be shared between customers of the retail building and tenants, some of which will be in first-floor covered parking. Four of the latter will be set up as electric vehicle charging spots.
The building will also include 46 covered, secure bicycle storage spots in two different places on the site and 30 short-term bike parking spots.
“Utilizing a vacant, derelict portion of this downtown property instead of a large tract of undeveloped land outside the urban core, the project helps reduce sprawl and environmental degradation and builds a sustainable, livable, and walkable community,” Studio Nexus’ letter states.
Lebanon officials are in the middle of debating how to reform their city’s zoning code to promote more development, particularly of “missing middle” small-scale multifamily housing. The region is in the grip of a severe housing shortage, with major employers like Dartmouth Medical Center saying they have trouble filling jobs as new some new hires are not able to find housing nearby. Multifamily developers have sought to respond to this demand in years past, but run into obstacles including sewer capacity and opposition from residents.
