Est. Mortgage: $/month
MLS Number 4734498
- Acreage 14.5
- Zoning Residential
Stone Meadow Commons is a fully permitted senior housing development. All state and local permits are up to date and ground has already been broken on the roadway to the first units. The development sits on 14.5 acers located at 182 Frank C. Gilman Hwy (Route 140) Alton, NH. It is situated in a picturesque rural setting only 1 ½ miles from Alton Bay. The development is approved for 45 total units. There is an existing single-family home already rented on the property for $1,100 per month plus utilities (tenant has been there for five years and wants to stay). The home is a two-story gamble with three bedrooms and one and half baths approximately 1600 sqft. The rest of the development is to be built with a total of 11 structures consisting of four units per structure, the development can be phased. The roadway is private and not required to meet state or town specs without raised sidewalks, minimizing the infrastructure cost. All the units are ranch style and handicap accessible. They are designed to be two-bedroom one bath approximately 900 sqft. Alton zoning does not permit the traditional 55+, as most town do. This allows for a much larger renting demographic. This development requires that only one person on the lease to be 62 or older, but all the other occupants can be any age, kids included. This means any grandparent with custody of a child can still reside in this development. It also allows for people of any age with a disability to be permitted to rent.
Listed by Peter Russell of Peter Russell & Associates