Newburyport, Amesbury and Salisbury MA: What Does the Future Real Estate Market Hold?

Change is not always welcome.    Lots of Newburyporters want to see the boatyard between The Black Cow and Michael’s Harborside remain a boatyard forever, and the eastern waterfront remain largely undeveloped.   But it is private property and the owners will develop it when the winds of the economy support the change.

But the great thing is that Newburyport, Salisbury and Amesbury are all in line for some serious real estate developments that bode well for our local economies.  Newburyport has the waterfront development I just mentioned.   Salisbury Beach is looking at a major innovative rejuvenation, and Amesbury has the whole Rte 110 commercial development area as well as the Bailey’s Pond 148 unit condo development.

Each of these projects individually will inject new life into local business and real estate values.  Together, their effect will be compound.  Here’s why.

An extension of Newburyport’s central business district to include the riverfront, particularly if in keeping with the atmosphere of the rest of the city, will greatly enhance its attractiveness as a destination.   Newburyport has yet to create a cohesive image to the outside world but that will come.

Salisbury Beach is slated for several million square feet of new development, spearheaded by The Thompson Design Group.   TDG are urban planners, the same company that did Faneuil Hall and Quincy Market in Boston, South Seaport in NYC and Chicago’s Navy Pier.   Who could possibly be better than that?   Their plans for a 45 acre mixed use all-season development for living, work, and leisure will replace the approach to the Beach, Beach Center and the area immediately to its south.

The envisioned project is of mixed heights (2 to 8 floors) to maximize views, with diversified shops and commercial uses along streets. The plan provides for a hotel and a variety of residence types with an array of services, attractions and a central green including an open air theater.  The plan recommends doubling the width of the beach inland, setting buildings back for storm surge safety, and reconfiguring public roads for ease of access.

The property owners, the Town, the State and its legislators have all rallied behind this new, beachfront mini-city and resort.   Again, the economy is keeping this on hold, but patience will pay off.   Such projects are always dependent also on receiving official approvals and permits, but all parties are optimistic.

Imagine a modern beachfront resort community with a meeting center and hotel on Salisbury Beach, tied by water transportation to new “old port city” style development and a hotel on Newburyport’s waterfront, not to mention the beautifully restored and vibrant old town.  The two can complement each other greatly.   Hope for teamwork between the developers!

Thompson Design Group is also working on permitting a sizable solar energy production park in an unpopulated area of Salisbury, and this appears to be currently economically viable.  It will provide all the energy for the new Beach Center, but can also answer power needs for the whole Town now and in the future.   By providing stable energy prices in the face of rising oil costs, this could benefit the Town’s economy in many ways.

To the immediate west, Amesbury with its newly thriving downtown will be riding on the beneficial coattails.   Herb Sears’ proposed hotel and commercial development at the intersection of Routes 95, 495 and 110 (so-called the “Golden Triangle” because of its economic potential) and the long discussed 148 condo development at Bailey’s Pond could both inject much needed tax dollars into the community.  Hopefully this will bring Amesbury’s woefully high property taxes into more manageable proportions and give real estate values and the Town a much needed boost.

When could all of this happen?  Hopefully within this decade.  All of these have been slowed down dramatically and holding the Salisbury Beach project together is tricky.  Will it make everyone happy?   No, because it will change the face of our area, increase real estate values and prices causing hardship for some, and certainly impact our now relatively minor traffic problems.   But for most of us (including this Realtor, of course) it represents an opportunity for economic growth and prosperity.   With the Thompson Design Group, at least, we are in excellent hands.  Let’ s make sure greed does not override architectural beauty, sustainability, environmentally intelligent design and the needs of long term residents and existing local businesses.

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