CONCORD, N.H. (AP) - The Concord City Council is going to consider a proposal to tear down the long-unused Employment Security building on South Main Street in the New Hampshire capital and construct a six-story building with about 60 market-rate apartments.
The existing building has been empty since 2014.
The city, which bought the building and has been trying to turn it into housing, has signed a purchase-and-sale agreement with the Flatley Co., one of the state’s biggest developers of commercial real estate, for $350,000.
The Concord Monitor reports the new building would be about three times the size of the current building.
The City Council will hold a public hearing on the proposal May 10.
If approved, the new building would be ready for use by the summer of 2023.
Matt Walsh, director of redevelopment and downtown services for Concord, estimated that once the apartment building opens it would generate $215,000 to $275,000 in taxes annually.
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