MERRIMACK — Construction will soon begin at Merrimack Park Place, the new mixed-use development at the entrance to Merrimack Premium Outlets.
“The apartments, restaurant and hotel are all intended to get constructed shortly,” said Dave Fenstermacher, project engineer with engineering firm VHB.
The $50 million complex will include 224 apartments, a 124-room Fairfield Inn and Suites by Marriott hotel, restaurant, retail and office space.
During a recent meeting with the planning board, officials asked whether the developer, the Monahan Companies of Nashua, has lined up a tenant for the restaurant space.
“It is close,” said Fenstermacher.
In order to align financing and maintenance issues, the developer approached planning officials asking to break the site into condo units. While the design of the project remains the same, there will be four separate units on the large parcel, which includes the apartment complex, hotel pad, restaurant and space for a future phase two, explained Fenstermacher.
Conceptual plans for the second phase of development include a 600-space parking garage and a multi-level building with first-floor restaurant and retail space incorporated with upper-level offices.
“I am personally excited to see what this process is going to develop into. I think it is a great thing that has happened to the community of Merrimack,” said Bill Boyd, a town councilor and planning board member.
The new complex, coupled with the existing Merrimack Premium Outlets, will make the site a destination location, according to Boyd.
“It is going to drive more people coming north to our community,” he said.
A site plan was previously approved for the first phase of Merrimack Park Place at 10 Premium Outlets Boulevard — a 20-acre parcel owned by the Monahan Companies.
“The model here is kind of a modified version of Portwalk (Place),” Gordon Leedy with VHB said earlier, comparing the Merrimack project with the existing Portsmouth development that includes hotels, restaurants and residences.
Designed with an urban street atmosphere, Merrimack Park Place will be truly unique, said Leedy.
“I don’t think there is anything quite like it in New Hampshire, which is pretty exciting,” he said earlier, adding the development will be more modern than Portwalk Place in Portsmouth and anything else that has been attempted in the Granite State.
Although an event center was included in the original plans, that piece of the project has since been eliminated.