Update on North of Broad Development
After months of thorough negotiations, the city administration is pleased to report significant progress in its discussions with NH District Corporation on the proposed North of Broad Development. Negotiators for the city report consensus among the parties on Mayor Stoney’s key priorities regarding affordable housing, minority business participation and a new GRTC transfer station. “Things are moving in the right direction,” said Mayor Stoney, “While this is not a done deal, I’m optimistic our negotiations will continue to be productive.”
Before the terms of a Master Development Agreement can be structured, city officials and the city’s financial advisors must analyze the financing proposed for the project and will await results of a third-party review of the proposal by Hunden Strategic Partners. Further updates will be provided when they are available.