'It takes a Village': New owners give Paugus Bay complex new lease on life

GILFORD — Aglow with new tenants and freshly renovated, the Village at Paugus Bay is ready for a coming out party. Its new owners, Neil and Elisa Silver, are just getting started.

The Silvers acquired the building when Neil’s investment banking business foreclosed on the previous owner. Rather than resell it, the couple took it under their wing.

“I really fell for the area,” Neil said. The Silvers, who come from California, bought a house in Laconia this spring. Neil, who previously worked on Wall Street, said that the extensive work he’s put into the Village has been “a labor of love.”

When he toured the plaza for the first time, Neil said he was appalled by what he saw. Previous owners had not taken care of the building and, with a non-functional heating system and mold on the walls, it was beyond dilapidated.

The Silvers resolved to be different: to do right by the building and its commercial tenants and breathe life back into a property with a prime location. This meant making more than cosmetic adjustments. They replaced the plumbing, heating, floors, air conditioning, and more.

“I like a challenge,” Neil said. He enlisted his wife Elisa to handle marketing and overall beautification.

The vision driving the renovation of the Village’s 29 total commercial spaces was to create a business community with a diverse portfolio of offerings and an atmosphere of mutual support amongst small business owners.

“We hope that restaurants, coffee shops, gyms, medical and legal professional offices, retail, everything,” will find their way to the Village, Elisa said. 

That vision was met with pessimism in the local community, the Silvers said. They didn’t listen. They emphasized that they have the passion, the skills, and the capital, to build a location and a community where local small businesses will thrive.

“The proof is in the pudding,” Elisa said. “People will see what we’re doing here and understand.” 

“We’ve made a commitment,” Neil said. “And we’re not going anywhere.” 

The Silvers also bought the China Bistro property next door. They have an agreement with Hilton to put a four story hotel behind the existing bistro, which they plan to gut and turn into an event or conference center.

Notably, they’ve also looked into constructing affordable apartments on the acreage behind the village. Neil said he believes it important that there be places where local residents can afford to live. The apartment building would host at least 70, and possibly more than 100, units, according to Neil.

The Silvers aim for these developments to compliment each other and put the revitalization of that complex into high gear. As newcomers to the area, they said, they are always open to input from locals about what, say, the China Bistro should become. 

The renovation is finished, but the project is “a work in progress,” Elisa said. She wants to coordinate with local artists and schools to put art on the walls and tie in local history and culture to the village’s character.

The Silvers believe that success going forward relies on both being as attentive as possible to their tenants and community outreach messaging to dispel any lingering stigmas around the building. 

"It takes a village, it really does" Elisa said. "We are so proud of our tenants."

When the Silvers took over, the building had two tenants. Now there are 14. They hope it will soon be full. 

Heather Abbott, whose several businesses are all now located at the village, is a relatively long-time tenant. Abbott first came into the village in December. Her businesses — Used 2B New, a thrift store and used clothing boutique, Rakin’ It In Property Services and Vinyl Visions printing — one by one found their way to the village. She also has received pessimistic comments about the Paugus Bay complex, but shares the Silvers’ optimism about a new reputation.

“This place could be very hoppin’,” Abbott said. “We just need visibility — I don’t think a lot of people even know there’s a mall in here.” She commended the work the Silvers have put into revamping the complex.

Ann Marie Shpeley used her platform of over 20 years in photography to open Harbor Lane Studio & Gallery, a gallery that she hopes elevates local fine art photographers and develops ties with the local student photographer population. Shpeley said she chose her space at the village because its unique, triangular shape is perfect to house a gallery.

Shpeley said art galleries typically don’t highlight fine art photography on the same level as other media, and she wanted to create a platform for her local peers: the Harbor Lane gallery showcases five New England landscape photographers including Shpeley, who all get an individual show once a year. She also aims to use her studio as a way to reach out to the photography programs at local schools.

Todd Rollins, owner of Ready Golf Teachings and Club Fittings, heard about the openings at the village through word of mouth. Ready Golf offers golf lessons, some club fittings and limited rentals of golf simulator machines.

Rollins has worked in the golf industry for decades, including 17 years at Laconia Country Club, and was prepared to start a business venture of his own. Rollins knew he wanted to keep his business local, and said that the new village space was perfect.

“There seems to be more and more vendors coming in every day,” Rollins said. “The owners have put a lot of work in and been nothing but great to me.”

Dajana Wildt’s Wildt Performance gym opens July 11 at the village. Wildt and her young family moved to New Hampshire last year, and Laconia this February, from Oehringen, Germany. In addition to private personal training, Wildt Performance offers three classes, one oriented toward women’s fitness, one toward back strengthening and rehabilitation, and one high intensity “functional meets Hyrox” course. Wildt’s background is in sports rehabilitation, personal training, and competitive Strongman — in 2016 she was the second strongest woman in Germany.

Wildt said she is floored by the opportunity presented by opening her new business at the village. “This is my dream, my passion,” she said. 

Tania Iris Barreto began giving music lessons remotely during the height of pandemic lockdowns, but, with reopening, clients wanted in-person options. Barreto’s Musician Now primarily caters to Christian music programs and churches, but also offers private lessons to anyone who wants to learn an instrument.

Barreto had recently moved to New Hampshire and saw signage at the village that they were leasing. “I didn’t know that was a place,” she said. She had been struggling to find a place that would take her business: landlords shook their heads at the idea of loud music.

The Silvers had the opposite reaction, Barreto said. “Elisa told me how excited they would be to have music from children playing and that I would fit in so well.” Barreto complimented the village for both being a beautiful venue for her business but also a supportive business community.

Amy Magdich started Love-a-Lot Floral and Event Services in June. Love-a-Lot is a full service florist drawing on Magdich’s 27 years of experience designing floral arrangements. It also sells candy, gifts, and products from local craftspeople.

Magdich said she is excited to be part of the business community forming at the village — especially since it includes a high number of female business owners. The Silvers frequently stop in to see how she is doing and “really encourage a great community” among their tenants. “That’s what they wanted to do from the beginning and they’re doing it,” Magdich said.

Magdich echoed the optimism of her neighbors about increasing foot traffic at the village. The place is a sleeping giant, she said. One that is ready to wake up.

Editor's note: This story was updated to correct the spelling of Ann Marie Shpeley's name.