A pair of developers behind some of Manchester’s largest apartment communities is teaming up for one of their biggest — and tallest — projects in the neighborhood.
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Thalhimer was the seller and the land is slated for 344 apartments between two 11-story towers connected by a sky bridge.
Guy Blundon and Mark Purcell are behind the $75 million project, which would feature two towers connected by a sky bridge that will double as the neighborhood’s newest event space.
After striking a deal with the city over access to the site, a local development firm is moving forward with plans to add two towers beside Manchester’s Mayo Bridge gateway.
“We’ve been investing in the neighborhood for a long time,” the developer said. “We’re huge believers in Manchester — this, to us, is not a gamble.”
Part of the driving force behind the listing is the neighborhood’s red-hot real estate market, where land has recently sold for as much as $4 million per acre.
A rezoning application to allow taller buildings to be built on the property is already in the works.
The Southside neighborhood saw more action and investment this year than just about any in the region.
The developer of a planned high-rise said the neighborhood might have reached the elusive density threshold to attract a big retailer.
Guy Blundon, Mark Purcell and Keith Woodard bought the 2.2-acre site at 700 Cowardin Ave., which had been planned for a residential project.