o There was a study done by the Trust for Public Land “New Hampshire’s Return on Investment in
Land Conservation” that found that residential developments consume $1.12 in services for
every $1 in revenue generated.
o The same study also highlighted funding options for conserving this 13 acre wooded lot coming
from federal, state, local, private and nonprofit sources. These options need to be pursued and
could mitigate the cost of purchasing the lot.
2. Housing - One of the arguments made against R-21-202 is that Nashua needs housing stock and that
people will upgrade to these condos and will free up affordable housing for Nashuans.
o The argument that these condo’s will address the shortage of housing stock in Nashua is not
supported by the data
* The Thorndike Development condos will sell for an average of $675,000. To purchase a
condo in Thorndike’s Development a household income would need to be $159K more
than twice the median income
« Therefore its likely that the majority of the buyers will come from outside Nashua and the
homes they free up will still be out of reach for the average Nashua family
« The following data is from the 2019 US Census:
Fact
Median value of owner-occupied housing units, 2015-2019
Median selected monthly owner costs -with a mortgage, 2015-2019
Median selected monthly owner costs -without a mortgage, 2015-2019
Median gross rent, 2015-2019
Persons per household, 2015-2019
Mean travel time to work (minutes), workers age 16 years+, 2015-2019
Median household income (in 2019 dollars), 2015-2019
Per capita income in past 12 months (in 2019 dollars), 2015-2019
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5. Greeley Park
o The park has been entrusted to the care of the City of Nashua for 125 years. The 13 acre lot at
15 Bartlett is surrounded on 3 sides by Greeley Park. The plan by Thorndike Development
shows condos right up against the property line to meet the minimum setback
requirenment. The condos will be visible from the majority of the west side of Greeley Park and
will reduce habitat for wildlife and the value of the park for all those that enjoy it.
= The benefit of spending time in nature are well known and I’m sure all of you are aware
of how essential having access to natural settings is to good health. Greeley has been a
family friendly natural setting for over 5 generations of Nashuans. The COVID
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