Perley Canal Mill apartments fill a need for new housing in downtown Laconia

By ALANA PERSSON, LACONIA DAILY SUN

LACONIA — With almost all 30 units leased within the new Perley Canal Mill apartment complex, it is safe to say there indeed was a demand for market-rate housing downtown.

Located at 72 Landing Lane along the Winnipesaukee River and Beacon Street, the Perley Canal Mill apartment complex opened for renters at the start of this year. The decision to make these apartments market rate, meaning that they are sold at market value without any income limits or special requirements to own them, was a route that had not been taken in downtown Laconia for many decades. Deciding to model a development outline that had worked various times in the Seacoast region of New Hampshire, Chinburg Builders decided to purchase the property and pursue construction of a new state-of-the-art housing infrastructure.

The vision of the apartment complex was to attract renters based upon the luxury "maintenance free" units and the easy access to downtown and the River Walk. Transforming the former Laconia Car Company, and the Allen-Rogers mill into livable units, each apartment has been designed to include features such as stainless steel, granite counters, a full bathroom, maple cabinets and exposed brick. Additionally, the amenities include heat, hot water, wifi, on-site parking, secure entry, a club room and fitness room, as well as on-site storage.

Although each unit has the same features and amenities, the apartments themselves range in size and price, from studio to spacious two-bedroom apartments. The studio apartments range between 632 to 778 square feet and were put on the market for the value of $875 to $1,075 per month. One bedroom apartments range from 703 to 1,128 square feet with a price ranging from $995 to $1,585 per month, and two-bedroom apartments range from 1,032 to 1,371 square feet with a price range of $1,295 to $1,895 per month.

The prices were set after assessing multiple factors, including the property value and current market rates for similarly constructed apartments. With the prices higher than most in the area, the properties would only be able to cater to local individuals who were at or above the average household income for Laconia, which for the 2015 year was calculated to be $69,637 per year, and the median household income of $56,171 per year.

"After hitting the market, the prices of the apartments only dropped slightly from what they were marketed at originally," said George Weisenburger of Partners Property Management LLC, when asked if the price ranges had been met.

For more information about the apartments or openings within the complex call The Chinburg Builders 749-3355 or visit www.chinburg.com/property/perley-canal/.

The Perley Canal Mill apartments opened downtown recently, and are almost all rented. (Alana Persson/Laconia Daily Sun)

The interior of an apartment as shown at the Perley Canal Mill website. (Courtesy photo)

The floor plans of the complex.