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Legacy at Laconia presents a unique investment opportunity that aims to create a self-sustaining village in Laconia, New Hampshire. The proposed development will be inclusive of the city and lakes region residents, providing additional services and jobs while increasing tax revenues for the City of Laconia. The project also aims to help reduce the state's housing shortage while creating business opportunities and increasing tourism dollars.

Housing Component:

Legacy at Laconia proposes to provide housing for all levels of income and ages. The housing component will include 350 townhouses, 400 apartments, 108 upscale condominiums in seven existing brick buildings, 340 units of single, duplex, and triplex homes, and 360 independent senior housing units. Additionally, there will be 120 apartments above the 200k square feet of retail/commercial space, which will include workforce housing. The senior housing component will include both independent and assisted/memory care units. The inclusion of low-income and workforce housing helps to address the housing shortage in the region while providing affordable housing options for residents.

Retail Space:

The development will also include 200k square feet of retail/commercial space, creating new business opportunities for the community. The 120 apartments above the retail space will provide additional housing options for workers in the area, contributing to the village's self-sustaining nature.

Lacroix Resort and Convention Center:

Legacy at Laconia also proposes to build a world-class resort and convention center with truly universal accessibility. The Lacroix Resort will include a 250-room hotel/resort, convention center, and 20 glamping sites. This destination location will maximize tourism revenue, bringing in additional visitors and tourism dollars to the region.

Public Park and Open Spaces:

The development will also provide public park and open spaces for recreational activities, including an entertainment venue for the community, a sports center, zip line, accessible nature trails, dog park, snowmobile trails, and open spaces. The Grand Field will also be included, and wetlands will be conserved.

Healthcare Component:

Legacy at Laconia will include an Urgent Care facility to support the village as well as area residents. The development will also provide a child care center, pharmacy, and a 230-room assisted living and memory care facility serving the middle market.

Financial Projections:

After acquisition, the development timeline is anticipated to be 18-24 months for the initial engineering, infrastructure, property segmentation, zoning and variances, and financing applications. Construction time is estimated to be five years, with all-in costs based on $400/sf for 1,000,000 sf totaling $400MM. The development is expected to create roughly 500 local jobs for construction, trades, engineering, and vendors during the build-out.

Conclusion:

Legacy at Laconia presents an opportunity to invest in a project that not only addresses the housing shortage in the region but also creates a self-sustaining village that provides additional services and jobs, increases tax revenues, and brings in additional tourism dollars. The proposed development offers a diverse range of housing options, retail and commercial space, a world-class resort, public park and open spaces, and a healthcare component. The investment opportunity in Legacy at Laconia is promising and will have a positive impact on the community and the region as a whole.