48 New Condos Overlooking the Lake
 

This is a lot better for the Weirs Beach area than the storage units that were proposed for the site a few years ago.

They will have a great view of the lake. Just wait until the new owners begin to look for boat slips.

https://www.laconiadailysun.com/news...297636dbe.html

48 condos there and 90 apartments off Province St.

I hope the sewer system is ready!

With the Laconia property tax rate for 2022 set at $18.86/1000-assessed value, a Laconia condo valued at $250,000 will have a yearly tax bill of $4715.

With the Meredith property tax rate for 2022 set at $13.43/1000-assessed value, a Meredith condo valued at $250,000 will have a yearly tax bill of $3356.

With the Moultonborough property tax rate for 2022 set at $6.98/1000-assessed value, a Moultonborough condo valued at $250,000 will have a yearly tax bill of $1745.

With this new Laconia-Weirs Beach hilltop housing development, it is proposed there will be 48-condos built on eight acres all serviced by city water and sewer. There's a garage shown in the LaDaSun report so could be each unit will have its own attached garage to fill with car, boat, and water sports items like floor jacks, kayaks and paddleboards purchased locally at Walmart or some other store!

Maybe a vintage 1971 Norton Commando motorcycle could be happening in the garage?

The nearby Weirs Beach could become a HAPPENING place for car top kayakers and paddleboarders to unload and hit the big lake since it costs $2 or 8-quarters/hour to park your car at the city owned Weirs Beach beach parking lot, immediately close to the Weirs Beach channel and nearby big water for kayaking and paddleboarding just beyond the swimmer's float line at the public beach/swim area. .... :banana::banana: Must be about ten parking spaces there, very close to the channel water for relatively easy kayak water entry. Heck, if someone really wanted to do it, they could move their kayak/paddleboard from their new condo, down to that Weirs Beach channel water via that Rt-3 sidewalk with a two wheel kayak trolley and save the $2/hr parking. Is maybe a 500-yard(?) walk down the nice Rt-3 sidewalk there, to get to the water.

Is even LESS money, $1 or 4-quarters to park at a space on nearby Lakeside Ave that's also close to the kayak/paddleboard channel unload area.

If this eight acre plot had been ten acres or more, it could have qualified for 'New Hampshire current use' property status that "encourages preservation of open space and conserving the land, water, forest, agriculture, and wildlife resources."

New Hampshire 'Current Use': https://concordnh.gov/295/Current-Use

Something tells me this new 48-condo development will speed up the proposed demolition of the old white & black 1885 historic house at 75 Lakeside Ave because all these new condos will be good(?), who knows(?), for business at Boardwalk Bar & Grill and it will get demo'ed for the extra land space, or something?

And last but not least, will the www.wowtrail.org 10'-wide walking-bicycling trail ever get built from Lakeport to Meredith with the Weirs Beach-ground zero location at its center Wow Trail spot? What do you think, or will it remain a basically TOTALLY unused railroad track with basically NO choo-choo trains?

size?
 

Any idea of unit size or price range? Is tie area zoned for short term rentals?

Maggiore Construction, Woburn Mass, ...... 8.16-acres, 143 Endicott St ..... asking price $3.59 million ..... "These will be upscale residences, not typical condominiums. There will be townhouses in groupings on the hillside to take advantage of the best views and privacy" says Al Mitchell, owner of 8-acres land sold to https://maggiore.co ..... 9-14-21 LaDaSun

Which lot is this? One next to cumbies?


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Yes, the large lot overlooking the lake.

Just a guess but I would say somewhere above $750,000. That is significant without lakefront or lake access. However, the views will be pretty good.

It is located in the short term rental zoning area but they could put restrictions about renting into the condo documents.

That may be one of my favorite views of the lake, but how far is it from the water in terms of access?

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Free movie night if they are built high enough


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I am very disappointed in the City of Laconia....

In what world is this a good idea? They had to change the zoning rules to get this to happen... more $750K-$850K condos just contribute to the gentrification of the Weirs. Anyone who lives in that neighborhood is going to be taxed out of existence!

Woodsy

Interesting , Koss Construction from CT is going through the planning board process here now in Moultonborough to build 60 condominium units / 30 duplexes on the bottom of Bean Road.

walk
 

It's easy walking distance to Weirs Beach, Thurston's Marina. It's a very long walk up a steep hill to get home, especially if you're carrying anything.

You know that's actually a good thing, "a very long walk up a steep hill to get home", because driving a motorboat gives you basically little to no aerobic exercise, you just stand there and ride the power boat and maybe get bounced around, so's walking up a steep hill will probably hit that exercise, work-out spot for many, but not all motorboaters. ..... :banana:

And, just WALKING, is excellent exercise especially as you get older, and WALKING UPHILL is even better-er exercise ...... to make you physically-fit-er ...... just like Roger Federer ..... hut-hut-hut! ..... :eek:

It's normal in NH to see people walking or jogging along a road with no sidewalk but this new condo development is situated in the middle of the super steep Tower St, Rt-3, and Lakeside Ave and Rt-3 and Lakeside Ave have very nice, wide sidewalks. So, is doable for these condo dwellers to walk out their front door and go take a pretty good loop walk via Tower St-Lakeside Ave-Rt-3 with a good amount of walking safety from moving traffic.

So, what's the snow removal situation for the Lakeside Ave and Rt 3 sidewalks, and super-steep Tower St. Is there snow removal or what for locals to use the sidewalks in winter? Will Mayor Hosmer be out there with a shovel doing these public sidewalks or what! ..... hut-hut-hut ..... :D

Because you can either add new housing or just accelerate the market value of the existing. Technically, the economic dynamics of capital suggests that new housing will stabilize price acceleration by addition of supply to balance demand.

From a property tax standpoint it broadens the base... it would be up to the city to control demand on the resources. But unless they attract a lot more children placing pressure on Elm Street, the Middle School, and less likely the High School... I can't really see the budgetary downside.

Well then, perhaps build a facility to house, clean, feed and treat the drug and mental illness woes of the homeless instead of building upscale condos: that will be sure to keep property values low.

Make it attractive enough and they'll flock to the Weirs from around the country and the Weirs may finally be considered a "destination" again.

The city of Laconia has a minimum 6 mths lease on any property within the city. Unless zoned commercial it will be an exception. Also, many HOAs have lease requirements, most matching the city minimum. This came about when people were complaining about unruly Airbnb rentals.

I live in the area and this to me is a welcomed addition. Certainly much better than storage units or any other non residential or non tourist related use. This will most certainly help the budget not hurt is as with most communities in the area they are only 30% full timers so there should not be a strain on infrastructure and it will help the small business local economy especially in season.

Yeah, I guess that's what I was thinking—sure, it's close, but is it reasonable. I didn't even like walking the 50' uphill at Trexler's when we were in valet there!

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Properties in the CR (Commercial Resort) and SFR (Shorefront Residential) are allowed short term rentals with no limitations on the number of separate rental periods.

This property is in the CR zoning area and would be allowed short term rentals. The only thing that would prevent that is if a rental use restriction is placed in the condo documents for this property.

It is also permitted in the Residential Single-Family (RS), Residential General (RG), and Residential Rural (RR1) zones in a seasonal dwelling unit for a maximum of 15 separate rentals or a maximum of 120 nights, whichever occurs first.

Southdown/Long Bay and other major developments, you would think they would lower the tax rate, but instead, we built the Taj Mahal type fire department and other extravagant spending, the tax rate went up despite the increased tax base! I don't see where the average joe can benefit!
Woodsy made a point, we have very little market-rate housing on the market and market-rate rental is also in high demand. How is building 750K condos going to benefit us? I know for a fact most of the seasonal summer help in the area that came from out of state cram themselves into small apartments or buildings in order to survive! I was told by the fire dept that this is common and it is a fire hazard! I'm all for affordable housing!

So much for work force residences. Let's keep them away from the water.

You can build whatever you want on your land with your capital.
But if you had built the 'Taj' within the original tax base, the current tax rate would be much higher. And if they didn't build any new housing, it would be impossible to find any place to rent as people moving into the area would purchase all the existing stock at higher and higher prices.

The problem with the average joe is they don't want to be the average joe.
If they did, the whole area would look like the 1940/1950s.

I was born and raised in Laconia. We never lived on the water, or even within sight of it from the house. The first time that happened is when I was a young adult... and I quickly found that intolerable.

Well ......one great benefit to living at this new 143 Endicott St. development is you will be able to conveniently walk to that nearby Cumberland Farms store and buy yourself a large 16-oz can of Dr Pepper for $1.99 and it will not require any soda can deposit, unlike in Massachusetts. ...... :)

Across the street from the Kayak rental place right on the Center Harbor town line?

glad im moving to sandwhich on some of the cleanest water around. :liplick:

The driveway to the Proposed condos is just past Heaths entrance on the right heading towards Sandwich. They would be on two lots behind red hill dairy.

Bummer. Seems like a development like that would be completely out of character for the area.

Also--no apparent water access other than town beach. It does not seem like it would have much character of its own. It's hard to understand why someone would buy there instead of one of the hundreds of places near the water in beautiful woodsy spots. But maybe I'm missing something?

Depends on how they price it.

1. They're just happy to get out of wherever they came from.
2. Hundreds of places? All I hear about is "no inventory"
3. This is a Lakes Region/Winni Forum. The number of people (%) here with water access is probably very high compared to the rest of the state

As a resident of the Weirs... I would have been happy to see hotel on the site. It is just another back door deal from our illustrious City Council!

40+ AirBnb $750K "investment" properties do nothing for the neighborhood but create problems! They do NOTHING to alleviate the housing crunch!

Unfortunately, the gentrification of the Weirs gets accelerated!


Woodsy

I’m a resident also but given the choice it is certainly better than the proposed storage units. Additionally a hotel wouldn’t to anything for the housing crunch either and as far as Air BNB as you know in Laconia you need a permit and we need to wait and see if the HOA will allow short term rentals.


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Joey...

The storage was NEVER going to happen... that was just Al Mitchell firing a warning shot across the City's bow. They have a long running contentious relationship.

A commercial entity on that spot minimally effects the residential property values.... $750K condos have a very adverse effect on residential values.

Woodsy

Woodsy. Respectfully I disagree that the condos will have an adverse effect on residential values, in fact I think it will increase values. I’d love to know why you like values will decrease, that is generally not the case when new residences are constructed.

Although I understand the issues in the local government the condos will generate a healthy amount of property tax to the budget while have minimal additional cost to the local infrastructure since I’m sure based on other communities only 20-30% of the residents will be full time.


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Joey, as a resident I agree with your response. Big tax revenue and little services required. The city is evolving from a early century manufacturing area to a retirement seasonal destination. Would like to know how the population number changes between seasons


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Interesting thought, it has to me be at least 30% of the total Laconia population but I am just guessing based the fact that the major communities in Laconia have only 30% full time residents


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I haven't seen the latest census numbers, but Laconia has around 16,000 residents... about the same as in 1980.

When you create new housing units, you stabilize or decrease the appreciation. Simply, law of supply and demand. Since demand isn't being curtailed, to stabilize or reduce prices new housing must become available.

If new housing was not being created, the demand would draw on existing stock raising the prices and pushing out the current population... that is gentrification. So creating new housing stock does not lead to gentrification... the opposite does.

Like the other condos that were originally constructed along the boulevard and across the street and throughout that area... over time they become permanent residents. The expectation is to see some of that in the current census numbers as Boomers did not hit Medicare until 2010, and the maximum should be in 2024.

Joey

By an adverse effect... I was referring to the HUGE increase in property values that will occur primarily on Tower Hill & Doe Ave & Methodist Circle.... essentially taxing people out of their homes.

John

Normally you would be correct in that more housing will reduce the demand and thus values stabilize. Unfortunately, there are not affordable primary residences that would reduce demand (that Laconia desperately needs) but most will be $750K 2nd home/airbnb units that out of state investors with no care but making money adore!

It is short sighted view by the Mayor & Laconia City Council... I wonder if Hosmer gets to buy 3 of these at cost?


Woodsy

On #2--Waterfront inventory is super low, but there are at least 3 places within walking distance of my house for sale on nice, quiet wooded lots. As John noted above, it's all about the price, but it is really tough for me to see the attraction of this spot for either a vacationer or full timer.

Of course, it was also tough to foresee what would happen to waterfront prices over the past couple of years...