Keough, Chinburg plan Portsmouth project
Seacoast area developer Eric Chinburg and former gubernatorial candidate Bruce Keough are proposing major development project off Borthwick Avenue in Portsmouth that will incorporate residential, business and artist studio space.
The estimated cost of the project could be as high as $45 million, according to Foster’s Daily Democrat.
Chinburg and Keough and their Islington Woods LLC are proposing construction of about 100 townhouse units, retail shops and an office building on about 47 acres of property bordered by Borthwick Avenue, Islington Street and Barberry Lane.
Most of the units will sell for about $300,000, although there may be some units in the higher $200,000 range, and some for more than $400,000.
“We’re proposing a multi-use neighborhood development. There will be a little over 100 residential units — mainly townhouses, built around beautiful greens and there would be some small retail shops,” Keough said. “We’re hoping to be able to attract some artists and provide some artist studio space and we’ll also have an office building.”