During the Wednesday, June 12, Planning Board meeting, members received its annual update from Woodmont Commons, the Planned Use Development that had its master plan approved by the town in 2013.
Former Londonderry Town Manager and current real estate consultant for Woodmont, Kevin Smith, told the board they have had two different projects in 2023 that were completed.
One of those was the Baldwin Continuing Care Retirement Community, which received its certificate of occupancy.
He said a ribbon cutting is expected to take place there this fall.
“I believe they plan on having a ribbon cutting ceremony in October,” Smith said.
The other project was Derry Medical Center 1, which opened to the public.
Smith also pointed to a number of projects for Woodmont Commons that are currently in the works.
One of those projects is Wood Partners, which is set to build 264 market rate apartments, with completion expected to come in 2025.
Another project is Derry Medical Center 2, which is partnering with a Boston based medical group, and is expected to begin work in July.
Smith also pointed to the Exit 4A Phase 1 project, which is expected to be completed in the final quarter of 2024.
He added that a number of projects are currently in the “pipeline” for Woodmont Commons.
One of those developments is a signed purchase and sale agreement with a developer for 113 acres of land at Exit 4A.
“I’m not at liberty to say who the developer is and what they’re going to be developing,” Smith said, saying that they expect an announcement to come sooner than later regarding the development.
In addition, Smith explained that there are a number of users who are interested in the remainder of the Exit 4A area.
He also noted that they are currently in negotiations with a hotel user in the “downtown” area of Woodmont Commons, which would be behind Derry Medical Center 2.
Smith said they also have a letter of intent from a developer who is interested in having 200 units and retail along Main Street.
Some of the other type of interest they have heard from includes a “music venue” user, an “amusement” user, other medical users, a bank/ credit union, and interest from multiple gas stations, along with the offer still standing for the YMCA to build a regional facility on donated land from the owners of Woodmont.
Smith said they have also reached out to a number of different potential restaurants and have heard different reasons for why they aren’t looking to have a location there, including some wanting to see more activity there. He added that as more is developed there, it’s likely more restaurants will be interested.
The next Planning Board meeting is slated to take place on June 26, at 7 p.m.