MANCHESTER, N.H. – The City of Manchester received a tentative $1,201,000 from 15 surplus properties on Saturday morning from an auction held at JFK Coliseum.
The properties (see map here), assessed at a combined total of $945,500 according to the city’s tax assessment office, were auctioned off as part of an initiative by Manchester Mayor Jay Ruais to alleviate the city’s housing shortage. Although it will be difficult or even impossible to build homes on some of the properties sold, some of the properties can hold one or more homes and the total funds raised will go into the city’s affordable housing trust to help developers seeking to build affordable housing elsewhere in the city.
“This was thrilling,” said Ruais. “We were able to work and coordinate with our city departments and JSJ Auctions to bring this about today.”
Jim St. James, the auctioneer for the event, said that this was one of the best land auctions he’s seen out of the approximately 30,000 he has done over the years.
“It was incredible, we had a mixture of abutters and developers. I think each group of people got what they wanted,” he said. “I grew up in Manchester and it was great to see all these people come out. I’m happy for the city and it was great to work with the mayor.”
One of the winning bidders was Todd Boyer, leaving with pending ownership of properties on Boynton Street, Erie Street and Titus Avenue. He hopes to build single family homes on these West Side properties.
“There were some decent deals today. Some of the properties were a little rough, difficult to build on, but I’m glad I got the ones I was interested in,” he said. “I think St. James did a great job.”
Sale of the city-owned properties is contingent upon approval of recommendation by the Manchester Board of Mayor and Aldermen Lands and Buildings Committee, which meets on July 2, and completion of purchase and sales agreements by July 23.
A list of the properties (map and lot numbers from the Hillsborough County Registry of Deeds in parentheses), acreage, sale price and assessment price can be found below.
UPDATE: As of June 12, City Hall reports that the balance of the trust is $283,393.72 minus pending a grant for emergency shelter operations ($73,009), a grant for healthy homes production ($50,000) and a grant for the Brook Street Shelter ($11,300).
