A new development, comprising 95 condos, added 19 sets of condos to be sold at a moderate price, will be built on the site of the former Cinemagic Movie Theatre, in the shopping plaza off Route 1 near Water Country amusement park. Portsmouth's plan making board <approved the condominium project, which developers say aims to create new housing for the middle class in Portsmouth. Torrington Properties Inc. was represented by Attorney John Bosen at a recent board meeting, where he stated that the condos "are meant to be luxurious, gleaming condos you'd see downtown". With Cinemagic closing all of it's cinemas in the region due to the COVID-19 pandemic, this condominium project will give new life to an otherwise empty lot. Bosen spoke on the developers on the project, and how they are "very proud of this development, the first of it's kind to offer 20% of our complexes as regulatory hard work homes for sale that will be below market value".
It's no doubt that majority of Portsmouth was represented when Bosen stated "We want more housing, just in the field of hardwork. We want more housing, period". The members of the plan making board discussed the option of setting the labor-priced housing at 80% of the regions median income, which was first proposed by the developers. Thanks to the hard work, dedication, and collaboration between the developers and Portsmouth's plan making board, this project is a go. In addition to the 19 workforce priced condos, there is a public square and public pickleball field in the project's plans. If you or someone you know would be interested in learning more about steps that can be taken to learn more about these condos or Portsmouth housing in general, reach out to one of our amazing realtors: Information Sources: