Kilkenny Heights Development- Berlin/Milan

[peakbagger]

I noticed an article in the local Berlin paper recently regarding one outcome of timber liquidations http://www.laconiadailysun.com/Berlinpdf/2009/7/7B.pdf. It mentions the 1200 acre Kilkenny Heights Development. I believe that this was a big block of forest land along RT 110 that had been actively owned and managed for over a hundred years by the local pulp and papermill. I expect that for most folks, they assumed that it was part of the WMNF. It was purchased about 10 years ago by Dillon logging and has been clear cut (or will be). The standard implied threat to regional conservation groups has been "if you dont buy it, we will cut it into house lots". To date this hasnt happened but now we get to see how a 1200 acre development is going fit into the area. Most of the time large developments of this size have been uneconomic to build, as NH site plan regulations have made the cost of installing the required interior roads quite costly. Generally it has been more profitable to install a higher density development where more houses can be stuffed onto shorter streets.

I have not seen a site plan on this development but taking a look at the old Brown Company lands, I expect this development will be on the west side of RT 110 straddling the Berlin Milan town line.

On the other hand for folks who are looking for that piece of land up in the north country, I expect this might be just what they are looking for and it will be keeping the local well drillers and septic tank installers busy for quite awhile. Of course, anyone buying will need to be able to imagine what its going to look like 20 or 30 years from now when the trees have had a chance to grow up again.

As an aside, given the current rough economy in Northern NH, there is a lot of land coming on the market, from locals who have no other choice but to sell out.

 

[dentonfabrics]

With the number of available properties in that area, I'm surprised that any developer would come in to build even more houses. Although I'm on the sidelines now, I've been shopping up north for a couple of years, mostly in Pittsburg, and learned a few things;

1) There's a ton of older residential properties that can be had for cheap, but even at cut rate prices, no one is buying.

2) The desirable properties (views, waterfront, etc) are relatively overpriced and it's almost as rare to see one sold.

3) Homes in that marketplace should be thought of as a VERY long term investment because given a level market (if there's even such a thing) the rate of appreciation is microscopic compared to more traditional suburban areas.

I know that the Berlin/Milan market is very different than Pittsburg but for a developer to invest millions of dollars to build in an area with no jobs available and limited vacation appeal is speculative at best.



bob

 

[Andrew]

I'm looking at the site plan and this is the area peakbagger describes. There are access roads into basically 3 internal loops off of the York Pond Road, Rte 110 west of AVRRD, and off of Jericho Lake Road. There are only 2 lots with frontage on 110.
The lots appear to be a minnimum of 10 and up to 12 or 13 acres each. This is a nice area thick in spruce and fir and would be a good purchase of a decent holding amongst some of the finest mountains around.