Hanover Mall owners insist on need for 297 apartments

By Adam Silva

HANOVER — Owners of the Hanover Mall told the local zoning board on Wednesday that a 297-unit apartment complex is crucial to their plans to redevelop the shopping center.

PREP, the owners of the property, are seeking a variance that would allow a four-story apartment building on the mall property. The current limit is three stories.

The company is also seeking a variance to exceed the town’s limit of 1.5 percent annual growth in residential development.

“We’ve created a plan that we feel very confidentially is going to work,” said Lloyd Sova, the company’s vice president of development. “You can’t really pare back that plan because we didn’t sell the residential portion. There’s nowhere to find x-amount of millions of dollars to take out of that plan. Therefore it would have to stay somewhat like it is now in terms of the mall and that’s just not part of our business model.”

Residents and business owners expressed concerns about the height of the complex and how the development would affect water, schools, traffic, police, fire and public works services

“It’s not something that would really benefit the town in the long run.”

Sava said he believes there are companies that would buy the mall, keep it the way it is and fill it with temporary tenants. He said he does not believe the town wants to see that.

“People here tonight understood that we are here to make money, but it has to be win-win from both our ends,” Sova said.

The board took no action on the variances.

Reach Adam Silva at adsilva@wickedlocal.com.

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By | 2019-02-05T19:07:52+00:00 December 12th, 2018|About Mixed-Use|