Make room for more historic-tax-credit-fueled renovations in Manchester.
Fountainhead Development is getting ready to rehabilitate buildings on two city blocks near Fifth and Stockton streets for an estimated $20 million, said Tom Papa, a principal with the firm.
The developer is planning to put 210 units in the two Miller Manufacturing buildings, he said. Miller Manufacturing is based in Richmond but is relocating, Papa said.
“It’s a little bit sad, because Miller as one of the last true manufacturing operations in Manchester,” Papa said. “But we’ve been chomping at the bit to get this project underway since we bought the property six years ago.”
City records show Fountainhead bought the two properties in February 2006 for $6.1 million.
The developers have already had the parcels rezoned for residential use, so they can avoid the lengthy special-use permit process required for many such renovations of industrial sites.
Papa said that his firm had not chosen a builder or finalized financing but that architecture firm Walter Parks is drawing up final plans.
The buildings will be renovated one at a time, with the first breaking ground in June and the second breaking ground in January, Papa said.
Papa said amenities would include a gym, a pool and a media center.