Work begins on big Durham mixed-use project
Madbury Commons will feature 126 student apartments, commercial space
Shown at the recent groundbreaking for Madbury Commons in Durham are, from left: Barrett Bilotta of developer Golden Goose Capital; John Samenfeld, president of Procon; Durham Town Manager Todd Selig; Sam Gangwer, Ken Rubin and Eamonn Healy, all of Golden Goose; and Brad Paige, CEO of Kennebunk Savings.
Work has begun on Madbury Commons, a mixed-use project that in Durham will feature 126 student apartments and some 45,00 square feet of commercial space.
Plans call for the development to be located in two buildings. One, 169,000 square feet, will have commercial space on the first floor and residential apartments on the second through fifth floors. The second building, at 39,000 square feet, will have commercial space at the street level and residential apartments on the upper two floors, with a limited number of residential apartments below grade.
The University of New Hampshire Interoperability Lab will be one of the tenants in the commercial space.
The apartment units will feature a variety of floor plans and each apartment will have a fully equipped kitchen, including a washer and dryer and separate living areas.
An August 2015 completion date is scheduled, in advance of the fall 2015 semester.
Golden Goose Capital, a private equity firm based near Boston that focuses on developing, owning and managing student housing properties near universities, is the developer. Kennebunk Savings is providing the lead financing, TMS Architects of Portsmouth is the project architect and Procon of Manchester is construction manager.