A massive redevelopment proposal in Laconia

BUSINESS. I AM FRED COKER. YOU ARE VIEWING A PICTURE OF A 2,220 ACRE MULTI-BUILDING LAND OVERLOOKING LAKE WINNISQUAM IN LACONIA THAT WAS ONCE THE LACONIA ESTATES SCHOOL. IT IS NOW THE SITE OF A HUGE $500 MILLION RENOVATION PROPOSAL, WHICH MY GUESTS AND I WILL TALK ABOUT IN A MINUTE. LACONIA PUBLIC SCHOOL CLOSED 1991 AFTER EIGHT YEARS, RESIDENTIAL CAMPUS. THEY HAD UP TO A THOUSAND PEOPLE. AT ONE MOMENT THERE WAS A DEVELOPMENT DIFFICULTY AND A JAIL. FOR A TIME, THE 220-ACRE BUILDING ABOVE THE LAKE OVERLOOKS LAKE WINNISQUAM, WHICH WAS DECIDED FOR 21.5 MILLION BY THE EXECUTIVE COUNCIL OF GOVERNORS ON DECEMBER 21. RENOVATION IS NOW PROPOSED HERE. In short, TYPES OF HOUSING FOR ALL AGES WORKFORCE LARGE RESORT AND THOUSANDS OF CONFERENCE CENTERS COMMERCIAL REAL ESTATE, REAL RETAIL SPACE AND SPORTS CENTER NATURE TRAILS AND SO ON. JOURNALIST ANNE MARIE TIMMONS, SENIOR REPORTER FOR THE NEW HAMPSHIRE BULLETIN, WHICH IS AN INDEPENDENT PART OF THE NEW HAMPSHIRE NETWORK OF NEWS BUREAUS, COMES WITH ME TO TALK ABOUT HOW IT ALL CAME ABOUT. AND, ANNE MARIE, WELCOME. I UNDERSTAND THAT YOU WORKED FOR THE MONITOR CONCORD FOR A WHILE AND TEACHED JOURNALISM AT THE U. AND H. WORKED AT THE MONITOR FOR 25 YEARS. HAVE YOU DONE IN-DEPTH REPORTING THIS YEAR OR MORE? THE STATE HAS BEEN TRYING TO DO SOMETHING ABOUT THIS FOR 25 YEARS. WHAT FINALLY MADE IT WORK? I THINK THE GOVERNOR GOT IMPATIENT. I SAW IN THE BOOMING REAL ESTATE MARKET HE REORGANIZED THE LAW THROUGH THE LAST BUDGET TO GIVE HIMSELF AUTHORITY TO SELL THEM, THAT, YOU KNOW, MAKES IT A MUCH FASTER PROCESS. AND I THINK HE JUST WANTED TO END IT. AND IT SEEMS TO BE MOVED IN THAT DIRECTION. YES, A HIGH-LEVEL GROUP LEAD BY FORMER NEW HAMPSHIRE COMMISSIONER OF RESOURCES AND ECONOMIC DEVELOPMENT, GEORGE BAULD. THEY HAVE ALREADY WORKED FOR FIVE YEARS TO BUILD THIS PIECE OF LAND OR AT LEAST PREPARE FOR BUILDING. BUT THEY NEVER GET TO FINISH THEIR JOB. THAT’S RIGHT. THEY WERE KIND OF LEFT ASIDE BY THE GOVERNOR’S PLAN TO SELL IT HIMSELF. SO THEIR WORK, I THINK, REALLY AND KIND OF DEFINED THE PLAN THAT WAS SET FORTH. YES THEY LOOKED AT EVERY BUILDING, ALL THE LAND, YOU KNOW, INTERESTS, PICTURE NEEDS AND THE PLAN THAT WAS PROPOSED WAS ONE THAT THEY SAID ESSENTIALLY WOULD BE A GOOD USE OF THIS PROPERTY. THEY DID NOT FINISH THE JOB, BUT IT WAS VALUABLE. THAT. I AM SURE. I’M SURE IT IS. NOW THERE IS AN INTERESTING QUOTE FROM THE EXECUTIVE COUNCIL OF THE GOVERNORS. THE COUNCIL JUST APPROVED THIS PROPOSAL IN DECEMBER. JOE KENNY, WHO APPROVED AND THIS IS IN HIS DISTRICT, COUNCIL DISTRICT, HE APPROVED THE DEVELOPMENT, BUT SEEMS CONCERNED, I WOULD THINK WITH THIS QUOTE, WE DON’T KNOW WHAT IS GOING TO COME OUT OF THIS AS YOU TRAVEL DOWN THE YELLOW BRICK ROAD ON THIS DEVELOPMENT PROJECT. I HOPE WE WILL GET TO THE EMERALD CITY. WHAT DO YOU THINK THAT MEAN? I THINK COUNCILOR KENNEY HAS BEEN A GREAT SUPPORTER OF THIS PROJECT. IT WAS INCLUDED IN THE REVIEW OF OTHER PROPOSALS. AND SO SHE FEELS PRETTY COMFORTABLE WITH IT, I THINK. BUT HE ADMITS THAT SOME OF HIS COUNCILORS DON’T KNOW. AND THAT’S WHY I THINK HE’S TRYING TO RECOGNIZE THAT YES, WE CAN HAVE PROBLEMS, BUT LET’S MOVE ON. WHY STOP NOW? WELL, THE PROPOSAL, THE DEVELOPER, I ASSUME, DID NOT HAVE A FINANCIAL BACKGROUND CHECK, AT LEAST THAT’S WHAT YOU REPORTED. IS THAT TRUE? THAT’S RIGHT. I THINK I’VE DONE A FINANCIAL CHECK AND THERE IS A CONCERN. AND OUR CONCERN HERE BY A FEW COUNCILORS. CORRECTLY. THIS DEVELOPER DOESN’T HAVE THIS EXPERIENCE. WE DON’T KNOW WHERE SHE WILL FIND THE MONEY. AND ONE OF HER PARTNERS LOST HIS APARTMENT AND IN 2017 WAS BANKRUPTCY, HE AND THE COUNCILORS JUST WERE NOT AWARE OF IT. THAT. AND I WOULD SAY THAT THE OUTFIT THAT WE MENTIONED AT THE TOP OF THE INTERVIEW, CBRE AND THE NEBULOUS COMPANY IS NOT A CUSTOMER. THEY JUST FOUND A BUYER, RIGHT? LAW. IS THERE A START DATE? NO DATE FOR END DATE. THE EXTERNAL CLOSING DATE WOULD BE SEPTEMBER OF THIS YEAR. BUT WE DO NOT HAVE EXACT DATES. THAT. WELL, I THANK YOU AND MARY TIMMINS FOR THIS STATEMENT ON THIS HUGE DEVELOPMENT PROJECT FOR THE LAKE AREA. ANNE-MARIE TIMMINS, NEW HAMPSHIRE BULLETIN SENIOR REPORTER. THANKS FOR WALKING US THROUGH THIS. OF COURSE. THANK YOU. IF YOU MISSED PART OF THIS YOU CAN GO TO ANY OUTCOME

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 Public School.

Updated: 8:37 AM EST, January 15, 2023

Fred Kocher, host of NH Business

Laconia Public School closed in 1991, leaving 220 acres of buildings overlooking Lake Winnisquam vacant. It was sold on December 21 by the Governor’s Executive Council for $21.5 million. Now they are working on a proposal for the transformation of the unused space. In the latest edition of NH Business, host Fred Kocher is joined by Annmarie Timmins, senior reporter at the New Hampshire Bulletin, to break down the evolution of the proposal, concerns about the proposal moving forward and the impact it could have on New Hampshire.

MANCHESTER, NH —

Laconia Public School closed in 1991, leaving 220 acres of buildings overlooking Lake Winnisquam vacant. It was sold on December 21 by the Governor’s Executive Council for $21.5 million. A proposal for the transformation of the unused space is now being prepared.

In the latest edition of NH Business, host Fred Kocher is joined by Annmarie Timmins, senior reporter at the New Hampshire Bulletin, to discuss the evolution of the proposal, concerns about the proposal moving forward and the impact it could have on New Hampshire.