Written by Carl Johnson
The Merrimack, NH planning board approved, on Tuesday, Chelsea Property Group's proposal for Merrimack Premium Outlets. The approval was the culmination of a four year approval.
Merrimack Premium Outlets will be 550,000 square feet, with 135 high-end clothing and home-good stores located off Exit 10 on the F.E. Everett Turnpike.
Chelsea Property Group is attracted to the 170-acre property because of area demographics, location and the market in New Hampshire. The company estimates that it will invest $150 million in the project.
Groundbreaking is estimated to begin in the next four to six months. After that, the outlets will take 18-24 months to complete - which falls between summer and Christmas 2010.
Although the project has been controversial, it is expected to bring a lot of jobs to the area and bring in substantial tax revenues for the town of Merrimack. This could help offset the losses due to some other local businesses that have shut down. Certainly it will bring in a lot of people from Massachusetts and surrounding New Hampshire towns. The increased traffic should also help other local businesses.
For more information see this news article
The Merrimack, NH planning board approved, on Tuesday, Chelsea Property Group's proposal for Merrimack Premium Outlets. The approval was the culmination of a four year approval.
Merrimack Premium Outlets will be 550,000 square feet, with 135 high-end clothing and home-good stores located off Exit 10 on the F.E. Everett Turnpike.
Chelsea Property Group is attracted to the 170-acre property because of area demographics, location and the market in New Hampshire. The company estimates that it will invest $150 million in the project.
Groundbreaking is estimated to begin in the next four to six months. After that, the outlets will take 18-24 months to complete - which falls between summer and Christmas 2010.
Although the project has been controversial, it is expected to bring a lot of jobs to the area and bring in substantial tax revenues for the town of Merrimack. This could help offset the losses due to some other local businesses that have shut down. Certainly it will bring in a lot of people from Massachusetts and surrounding New Hampshire towns. The increased traffic should also help other local businesses.
For more information see this news article
| < Prev | Next > |
|---|