RE/CON Briefs

Yoken’s set for Jan. 10 demolition

Yoken’s restaurant is scheduled to come down on Jan. 10, following the Dec. 1 sale of the landmark for $3.8 million.

Speculation revolves around plans to put a Shaw’s Supermarket on the parcel. Barron Lambert, who is listed as principal of Michael’s Realty Trust – owner of the property — is general counsel for Shaw’s.

The restaurant and conference center closed its doors on Sept. 26 after 50 years of business.

Portsmouth agency regains Section 8 funds

The U.S. Department of Housing and Urban Development will give the Portsmouth Housing Authority about $300,000 of subsidized rent money after first denying an appeal by the PHA that the money was wrongly cut from its budget, the Portsmouth Herald reported.

Facing funding deficiencies nationwide, HUD told PHA Director George Robinson in April that his Section 8 budget for the fiscal year starting in January would be rolled back to 2003 levels.

The PHA and other housing authorities around the state appealed their respective funding shortfalls, arguing that they could lead to a reduction in Section 8 payments, freezing new vouchers or even removing tenants from the program, Robinson said.

Robinson’s office received word recently that HUD would recoup the PHA’s losses, but only after Sen. John Sununu, R-N.H., intervened and Robinson’s original request had been lost in HUD’s Washington, D.C., headquarters.

Section 8 is a federal program that subsidizes housing for low-income residents by granting them rent vouchers through their local public housing agency. The vouchers pay the difference between what the tenants can afford and their total rent bills. The average portion tenants pay is 30 percent of their rent.

Web site not a realty broker

New Hampshire’s bank commissioner has ruled that a Massachusetts-based Internet service does not need a real estate license.

Commissioner Peter Hildreth’s decision came after the New Hampshire Association of Realtors filed a complaint earlier this year against ISoldMyHouse.com, an on-line real estate listings service.

The complaint accused the site of acting as an unlicensed broker. It sought to force the repayment of all fees the site collected from New Hampshire residents who found buyers after placing listings, among other sanctions.

But Hildreth said the site was part of another firm – East/West Mortgage Company — and didn’t need a separate license.

He also called the site a banking interest, not a real estate function.

The site lets property owners list homes for sale and avoid using a real estate agent.

Dunkin’ Donuts buys Quikava sites

Dunkin’ Donuts is buying the Quikava locations in New England and plans to turn them into Dunkin’ Donuts shops, according to the company.

There are three Quikava sites in New Hampshire – in Amherst, Nashua and Manchester. The other six Quikava sites are in Massachusetts and Rhode Island.

Quikava and some its franchisees decided to sell the nine New England stores, although they will continue operating the 15 stores in the New York area.

Dunkin’ Donuts officials said they have already begun renovating the stores in all three states and expect to reopen them in a few weeks.

Rochester amends PUD ordinance

The city of Rochester has amended its planned unit development ordinance, increasing the minimum size for planned unit developments to 75 acres and making developers responsible for reimbursing the city for studying the fiscal impact of each project.

Other conditions require that developers tie in to city water and sewer service if it is “reasonably available” and that any proposed restrictions or easements first be approved by the planning board.

In January, the City Council asked the planning board not accept any more applications until after a review of the ordinance, which allows developments combining residential and commercial units to form a village-type concept.

Gilmanton project nears approval

A developer could receive approval in January for a planned 14-unit housing project at the top of Frisky Hill in Gilmanton.

Arlington Development is planning 14 single-family units — seven three-bedroom and seven four-bedroom — ranging in price from $400,000-$495,000.

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