Nashua
Sore T EM ac=d elo Lat
apA0 Rope tom Naess eleled an
group explored economic
development opportunities
in Nashua including the
redevelopment of the historic
Millyard, an economic
conditions analysis, and
a workforce development
analysis. The study suggests
the City encourages
inclusive technology-
Nashua Today:
Economic
Development
Nashua is home to a complex
landscape of business sectors from
health care to manufacturing to
construction. These diverse sectors
are represented as large circles
in the adjacent graphic. Within
each sector there are a variety of
subsectors and business sizes. For
example, within manufacturing
there is electronic manufacturing,
Nashua’s largest
business sectors
Restaurants
Computer Consulting
Systems Desig
4 qent Techn cay
Nashua’s economy Is strong and growing, but still
subject to local and regional pressures. Any plan for
sustainable and inclusive economic development
in Nashua must take an integrated approach -
thoughtfully assessing and coordinating the city’s
land use policies, transportation infrastructure,
social capital and services. Nashua Is well
positioned to advance growth in both its established
and emerging sectors, but must prioritize equitable
access to jobs and opportunities In the city for all its
residents and workers.
Action: Evaluate
opportunities to renovate
older structures for
improved affordable
housing throughout the
city.
Action: Create and
maintain an inventory of
publicly owned land and
assess its suitability for
new affordable housing.
Timeframe: Mid-term
Action: Encourage
Comprehensive Master Plan
Housing
The City has already done a great deal of ground work via the 2020
housing study, and this master plan endorses its recommendations.
Recommendation 2
Timeframe: Near-term/Ongoing
Update inclusionary Housing
Regulations.
Consider revising the current
Inclusionary Zoning (IZ) policy to
apply city-wide to any residential
or mixed-use development that
exceeds a certain number of units
(e.g. any development containing
10 or more units).
Imagine TEENA
The City will need to
encourage and support more
development to provide
the housing that is clearly
needed to support our current
and future residents and
businesses.
Implementation Report Card
Baseline —> 2030 Target
Housing units (increase from
base) - Housing Study
34018 —>39018
Housing affordability: cost
burden - rental
41% —>38%
Housing affordability: cost
burden - owner
26% —>22%
118
Rents are also increasing in
Nashua. Over the last five years,
median gross rent rose 19% to
a high of $1,287 per month. The
number of rental units priced
between $1,500 - $1,999 range
grew 24% in five years, the fastest
of any rent range. Rent growth has
been driven by demand for smaller
units, typically 1- bedroom units.
Downtown Nashua should
Imagine TEENA
A gap in purchasing power
In Nashua, homebuyers are
made up of upper income
homebuyers which account
for 49% of all households,
moderate income which
account for 17%, and lower
income which account for
24%. Households in the top
34% can purchase homes
starting at $331,000. Due to
a lack of supply, households
in the bottom 50% are left
competing for homes with
residents whose purchasing
power is $100,000 greater.
Comprehensive Master Plan
Housing
Planning for future housing should not be in isolation of other factors,
but with access to opportunities, transit, and amenities in mind.
This has impacts on affordability,
ability to pay for housing, and
concentrations of lower income
households in certain parts of the
city.
