By now you may of read in local news that Tupelo Music Hall is moving to Derry. What this means to not only Derry but specifically the Downtown is something most can't fully appreciate.
Tupelo being moved to a 10,000 sq ft music hall will not only bring better music venues it will bring in Out of towners to the area to shop & eat and spend money right here in Derry. I also heard rumors of a possible hotel that may want to come in. This is great news for Derry. Is it the magic pill that so many critics of Derry looking for? No, however it will be a positive contribution no doubt.
Tupelo owners will also be interested in building a retail building as well so I would imagine you may see some additional businesses coming in as well that would compliment Tupelo.
Now we need to get more interested businesses locating in the downtown area by letting them know that more pedestrian traffic will be coming there way.
We should also be hearing back from the Study group who recently did a downtown study for us soon.
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11 comments:
I welcome the new establishment to town. I cheer for them as I do every entrepreneur who puts his or her money where their mouth is. It takes guts.
Numbers however are cold unfeeling things and the numbers say that 50establishments such as this will barely make a dent in the commercial/residential property mix. And I will not even venture into the subject of high playing jobs.
Welcome Tupelo!
p.s. "I also heard rumors of a possible hotel" Can you tell me why any hotel chain in their right minds would locate in Derry? No airport, no major population center, no major attractions, no major employers that draw salespeople, high taxes now that are about to explode in 2 years...please let me know as soon as it is announced, I want to short their stock.
It may be a good thing for the "Whole town" but the local neighbor is being sacraficed. I am sure that the the Tupelo will bring alot of out ot towners in and they will also be using all the side strets to get out of Derry too!.
I have some questions.
Is there going to be more than 1 exit out onto Crystal Ave?
Will there be a policeman required for each performance to direct traffic at the end of every performance? 1 at the intersection of Crystal and Broadway and 1 at the intersection by the police station.
Will they be required to hire Derry residents to work there?
Finally we have some business in to wn that will put us on the map. I hope we continue to grow from this. I believe this will bring in other businesses as well perhaps some restaurants. Those that are not your average chains.
Goodluck to Tupelo this is certainly a great asset to Derry. I hope people can stay positive.
It is a start i am sure more will follow.
Anon 10:11 do other businesses in town also have to Hire people from Derry in order to be in business here? This is an absurd notion. I am sure you are not an entrepreneur.
10:11
I think if you start applying rules like "Will they be required to hire Derry residents to work there?" you can drive every last business out of town. Leave them and everyone else alone.
Did some more checking and found by using the town assessors site and GIS system that the 6.24 acre site being considered by Tupelo is currenly (and has been for years) assessed at only $255k. Seems low for a property now selling for north of $1 Million.
I then looked at other commercial property around town - both vacant and occupied and found that the valuations seem low - at least in my opinion. 27+ acres of developable commercial property valued at only $400k (less than many homeowner valuations in town!! with less than an acre)
Perhaps the tax revenue in town is more easily solved than we think - by increasing the valuations on these commercial properties to where they should be.
And take the Fairways Apts for example - Sold in 2006 for $65.4 Million - Town appraisal value - $9 Million - hmmmmmm.
Why are residential valuations right at the last sales price - or above while these commercial properties are way undervalued?
No wonder why the taxes in Derry are so high for the average homeowner - we're subsidizing all the business property owners and large commercial property holders in town.
Scrap the part about the Fairways in my last post - I see that the property is actually spread out among various addresses/streets and that the assessed valuation is much higher when all are added together.
Confusion from the total sale price being posted on the South Main Address listing with only the valuation for 5 buildings.
10:56 I do not believe your original post is in error. Add up the Fairways pieces and the assessment does not come to $60+ million. Ask your councilman about it. I did 4 months ago, still waiting for an answer. When the phone doesn't ring, I'll know it's him.
Why would we under-assess a complex owned by an out of state investment company? I can only imagine.
DJN
Anon 10:30 ... Agreed ... vacant lots are undervalued "to help bring in business". Bull@#$%! It is because of RE agents running the town. Not necessarily on the council, but rather 'behind the scenes'! Brian can attest to the fact that he makes no money ... but the folks 'behind' him make a fr#$king killing!
What does Beth Thompson actually do all day?
Is it true that she is a Stenhouse croney from Rochester?
She is thus far shaping up as another Dowd type that just can't get it done.
Is she the best we could do?
Have you been through Rochester lately?
Yikes.
The last time this land was to be developed there was a big contraversy over "Wetlands" This property is considered to have "wetlands" Have all the "Wetland" rules disappeared because this is an In-town project? Or have people just don't care anymore about the environment unless itis in East Derry.
If you all remenber, Tupelo was supposed to go in on Broadway a fews years ago. The owner made all this hype about revitalizing the downtown... and then NOTHING happened. He backed out. I'll beleive all this stuff about Crystal Ave when it's actually occupied.
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