New Tax Credits Spur Exeter Development

A new mixed-use, multi-story building planned for a section of Epping Road could house apartments for senior citizens and various commercial operations.

Felder Kuehl Properties last week won approval from the Planning Board to build at 85 Epping Rd.

Company representative Robert Felder said plans calls for a three- or four-story building. The first floor would be commercial space, while the top floors would have about 18 apartments—mostly one bedrooms—for seniors.

Felder said a new tax credit program approved by town and state officials motivated his company to build there.

The Economic Revitalization Zone program, which was established last year, gives breaks to companies on their Business Profit and Business Enterprise taxes. There area more than 40 such zones across the state.

The program in Exeter is available to companies that want to develop within a 1.5-mile stretch of the road from eZee Bikes of New Hampshire in the south to past the Mobil gas station to the north. The area includes blighted stretches of empty storefronts that town officials are eager to see developed.

In that area, Felder Kuehl recently had The Meeting Place affordable housing complex built.

The company's plan for the 85 Epping Rd. site is subject to approval by the Zoning Board of Adjustment.

RELATED

• New Tax Credits Available to Exeter Businesses

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