Board approves amended development agreement for Nimco site, trimming 12 units and keeping 20% affordable

The Nashua Board of Aldermen on July 14 voted to adopt Resolution R-26-047, approving an amended and restated master development agreement and the fourth amendment to the purchase-and-sale agreement with Lansing Melbourne Group LLC for the Nimco site.

Economic development director Liz Hannum told the board the developer purchased the adjacent Bagshaw parcel, which allowed a revised site layout with a public road between buildings. "So we are instead of putting 254 units, we are putting 252 or 242 units," Hannum said, explaining the change effectively reduces the Nimco parcel's unit count by about 12. She said the two new buildings on Nimco would have roughly 107 and 135 units, respectively, yielding about 242 units on that parcel.

Hannum said the amended agreement preserves the project's affordable housing requirement. "It'll still be 20%," she said, and she noted the request-for-proposals (RFP) required that threshold. Hannum also said the developer voluntarily agreed to carry a 20% affordability commitment to units planned on the Bagshaw property, which the city does not control, potentially adding more affordable units beyond Nimco's minimum.

Andy Perlman, attorney for Lansing Melbourne Group, told aldermen the acquisition of the adjacent parcel changed the "dynamic" of the plan and argued the two-building layout would create a small, accessible neighborhood with a public road and improved emergency access.

Board members questioned whether the grid shown at the meeting matched materials reviewed in committee and whether the change would reduce the number of affordable units. Alderman Lopez pressed for clarity on unit counts and affordable-unit totals; Hannum confirmed the loss is effectively a single affordable unit on Nimco while additional affordable units are expected on Bagshaw as part of the developer's voluntary commitments.

After discussion, the board called the question and the motion for final passage carried on a voice vote. Resolution R-26-047 was declared duly adopted.

The amendment does not specify in the meeting record an exact total of affordable units across both properties; Hannum said the developer has indicated an intention to add "about 20 to 30 units" on Bagshaw but that plan was not finalized at the meeting. Funding, approvals, and further site plans were described as subject to the terms of the amended purchase-and-sale agreement and subsequent permitting.