Past Projects

 

Benson Woodworking – Keene, New Hampshire

Bensonwood Woodworking, headquartered in Walpole NH, creates sustainable custom buildings, homes, and other structures throughout the country. To meet growing demands for its products, the company needed to expand its manufacturing capabilities to increase production capacity. In early 2017 MEDC provided site location assistance to the company and identified the former Smith-Medical warehouse as a potential location to help Bensonwood expand. MEDC worked closely with Bensonwood to weave together $9 million in financing, which allowed MEDC to purchase and renovate the 104,000 square foot building in Keene.  MEDC also purchased new manufacturing equipment for the site.  MEDC combined New Markets Tax Credits, bank loans, and a Community Development Block Grant to fund the project.  MEDC currently leases the building and new equipment to Bensonwood. The company committed to adding at least 15 new jobs in the Monadnock region. 

  Keene Public Library Expansion – Keene, New Hampshire

MEDC led a $13 million expansion of the Keene Public Library that connects the main library to a renovated and repurposed neighboring building known as the Annex.   A former Masonic Lodge, the 25,000 square foot building includes Heberton Hall, a large hall with stage, kitchen, and capacity for 240 chairs.  The project creates new community spaces, makerspace, and meeting rooms, while bringing the historical structure up to code. MEDC assembled over $13 million in project finance, including over $4 million in New Markets Tax Credit investment, $5 million in private donations, a $2 million City Bond, and a $2.5 million City loan to MEDC .  With these resources, MEDC purchased the and renovated the Annex, and constructing a new connector building connecting the Annex to the Library.  MEDC completed the project in late 2018. MEDC will own the property during the seven-year duration of the tax credits, with the intent to sell the property to the City. Until then, the City will lease the Annex and the new connector building from MEDC. 

Monadnock Food Co-op – Keene, New Hampshire

Beginning in 2010, MEDC worked closely with people from the region who had a dream of opening a food cooperative in Keene. A lot of hard work and commitment to the dream eventually culminated in the construction of a new 13,000-square-foot facility on the Railroad Land in downtown Keene, with a mission that includes being an accessible, community owned downtown food market.   The grand opening of the Monadnock Food Co-op was in April 2013. MEDC assembled over $4.5 million in financing from a variety of sources including a bank loan, a Community Development Block Grant, an RBEG Grant from USDA Rural Development, CDIP tax credits, a loan from the Green Gap Fund, and Brownfields Remediation loans from CRDC and REDC.  MEDC used these funds to construct the building and purchase equipment for use by the Co-op. MEDC leases the building and the equipment to the Food Co-op. After several years of sales growth and an overwhelmingly positive reception from the community, MEDC worked with the Co-op on expanding the existing facility by approximately 5,700 square feet.  The project also adds more parking, creates more outside dining space, and adds the finishing touches to an amphitheater in the center of the Railroad land. Construction is now underway.   

  Alice Peck Day Hospital – Lebanon, New Hampshire

MEDC was the developer and is the owner of the Alice Peck Day (APD) Memorial Hospital’s Multi-Specialty Clinic, a $13 million, 44,000-square foot project in Lebanon. Located at 9 Alice Peck Day Drive, MEDC constructed the building in accordance with an APD design. MEDC obtained financing for the project through a $13 million long-term, low interest loan from USDA Rural Development’s Community Facilities Loan Program.  MEDC also secured a Community Development Block Grant from the New Hampshire Community Development Finance Authority, supporting new job creation at the site.  The facility opened in late 2017. MEDC now owns the site and leases it to Alice Peck Day on a long-term basis.  The facility is home to 150 staff members delivering most of the hospital’s primary care services and many of its outpatient departments.