Andrew M. Chaban, CEO of Princeton Properties. (WHAV News file photograph.)
Plans for 153 apartments on the site of the former DiBurro’s Function Facility are moving ahead with demolition underway off Route 125 in Ward Hill.
Princeton Properties Management Chief Executive Officer Andrew M. Chaban told WHAV Tuesday demolition at the site is expected to continue over the next four to six weeks with underground and foundation work taking place during March. While other recently permitted developments have been slow to start, Chaban said his company is more “narrowly focused.”
“The supply and demand equation is in our favor. It’s a great spot for housing and we’ve always taken the long view…It’s hard enough to do any one thing well and we’ve been good at one thing since 1973. That is, creating homes for people,” he explained.
Chaban said there is a continuing need for housing in the marketplace. He added apartments near a major highway are an added draw for future residents. Apartments could be ready during the first part of 2024.
Haverhill city councilors voted 7-1 in July of 2021 to approve Princeton Properties’ redevelopment of the 6.5-acre site at 887 Boston Road. The company, which already owns the former Forest Acres complex, also off Route 125, also won permission to build retail space of no more than 10,000 square feet of gross floor area and a restaurant not to exceed 10,000 square feet of gross floor area.
All access to the property is from Boston Road and not the heavily traveled Route 125 near the Ward Hill Connector.