Investor Plans 43 Units for Merrimack St.; City Seeks $1.17M Loan for Police Station

Wondering what’s going on with the boarded-up building at 127-133 Merrimack St.?

Click image for Haverhill City Council agenda.

On Tuesday, City Council will receive a request from RB Asset Management of Methuen for a hearing on a permit to build a six-story, mixed-use building with 42 residential rental units and a first-floor commercial space facing Merrimack Street. The council meets beginning at 7 p.m. in the Theodore A. Pelosi Jr. Council Chambers on the second floor of Haverhill City Hall. The meeting is open to the public.

According to Haverhill attorney William J. Barron, the developer has a signed agreement to buy the building pending approval of the development. According to public records, the principal of RB Asset Management is Francis J. Bevilacqua III.

Barron’s communications with the City Council say the Merrimack Street property will be developed under the city’s Waterfront District Zoning rules. The permit hearing is scheduled for the council’s Oct. 31 meeting.

Also on Tuesday, councilors will receive a request from Mayor James J. Fiorentini to borrow $1.17 million to complete the replacement of windows and repair of masonry on the Haverhill Police Station.

Gale Associates, the consultant on the project, estimates the remaining work to cost $1.06 million but recommends an additional 10 percent contingency to cover unforeseen issues.

Council rules require that the request be held for two weeks before they act on it, meaning the vote is likely to take place during the Oct. 31 meeting.

 

One thought on “Investor Plans 43 Units for Merrimack St.; City Seeks $1.17M Loan for Police Station

  1. “…recommends an additional 10 percent contingency to cover unforeseen issues.”
    Can you imagine how much fake overtime the union hacks working this job will be putting in for knowing this extra 10% is already approved? When have you ever seen a government contractor come in under budget when funds have already been approved? Who wants to bet not one councilor objects to this scam?