Work has begun at the site of Our Town Village, a 30-unit condominium complex being built at 241 Union St. in Peterborough. 

Excavators from Mathewson Company are clearing the lot for grading and foundation work. 

Realtor Sadie Halliday and developer Phil Mathewson are hoping  the project will help fill a void in the Peterborough housing market. 

“Mainly, I’m really excited about the price point with these units. We are hoping we will get new families,  young professionals, people who need to downsize and would like to stay in the area,” Mathewson said. 

Mathewson and Halliday are anticipating the units will go on the market for between $289,000 and $330,000.

“There is just absolutely nothing available for people in that price range in Peterborough,” Mathewson said. 

The completed project will consist of 30 one- and two-bedroom condominiums, including one building with 20 units, a four-unit buildin, and a six-unit building. Halliday Real Estate is marketing the project for the Mathewson Company, which recently purchased the land from Halliday. 

The neighborhood will eventually be managed by individual owners through an HOA.

“We’ve done this model before where the HOA takes it over, and it works well,” said Mathewson said. 

“What we’ve seen with other HOAs we have set up is that people move in and they are very excited, and want to be a part of it. They have all been self-governing, which keeps expenses much lower,” Halliday said. 

According to Halliday, the goal is to keep the HOA fees affordable, in the $200 range. 

Our Town Village is at the site of a former horse farm across from Briggs Road and the Nubanusit Farm and Community. 

“The neighbors from Nubanusit Community who came to the planning meetings were mostly very supportive of the project,” Halliday said. “This is a very appropriate development for this location, because it walkable for people. It’s part of the village; it’s near playgrounds and shopping. The best part is that Nubanusit Farm and their farmers’ market and CSA are right across the street, and that will always be a farm.”

In April, the Peterborough Fire Department burned and demolished the existing home and barn at 241 Union St., which were in disrepair,  as a training exercise. 

Halliday, who bought the land for Our Town Village at auction in 2023, initially intended to create a larger development, but designing a project that would fit at the site proved challenging. The nearly three acres of land falls within a zigzagging lot, and because the lot line is less than 250 feet from the Nubanusit River, the project required shoreline permits as well as alteration of terrain permits. 

“This was a ‘by right project.’ We did not need a variance, because West Peterborough is already zoned for this density,”  Halliday said. “But it was a long process, nonetheless.”

Halliday says the site had advantages which helped keep the units relatively low-cost.

“There was no ledge, and it will be on town water and sewer,” she said. 

Both Halliday and Mathewson, who have collaborated on several other projects in the region, say they are committed to bringing more housing of varying price ranges to the Peterborough area. The Mathewson and Halliday companies have partnered on several recent developments in Peterborough, including Southfield Village and Trail’s End Common. 

Halliday says there were some concerns raised during the planning process when abutters  and community members became aware of the scale of the project.  

“There is always some pushback, but what it comes down is, certain types developments in certain locations really make sense,” Halliday  said. “Someone at one meeting asked, ‘Why can’t you put this development somewhere else,  like in Francestown, or in Hancock?’ The answer is, even if we could, there is no infrastructure in those towns which could support this development in any way.  This development is very appropriate for this neighborhood.”

Halliday says local residents are not always aware of the long- reaching impacts of the region’s housing shortage. 

“You have so many people who can’t afford to live in the Peterborough area or the Monadnock region. They grew up here, but they can’t afford to come back here.  I think this is a good opportunity for people to get in the door and start to build up some equity; to live there for several years until they maybe move to their forever home,” Halliday said. “We also have a lot of local people who aren’t ready for a Scott-Farrar or a RiverMead, and they no longer want to maintain a 4,000-square-foot home, but they have no options and nowhere to go. ”

According to Mathewson,  the units will be ready by August 2026. 

“Phil and I have worked on a lot of projects together, and if that’s when he says they will be done, that’s when they’ll be done,” Halliday said. 

The units are currently being marketed on Halliday’s website, and prospective buyers  encouraged to fill out an application and get on the waitlist. 

“Applications will be first come, first served,” Halliday said. “I’ve already started a list, and we’re anticipating we’ll have a lot of interest.”

“I think it’s going to be great,” Mathewson said. “We’re really excited for this to happen.” 

For information about Our Town Village, go to hallidayrealestate.com/our-town-village-townhomes-peterborough-nh.