With over 850,000 SF permitted, River Park combines life-science research and office space, service retail and housing uses, while maintaining over 50% of the entire site as open-space.
River Park breaks ground in 2015 and is now leasing for Phase 1 and more.
Phase 1 will have 30,000 SF of office space, located on the 2nd and 3rd floors of Building #1.
The first floor of Building #1 offers prime retail opportunities alongside Route 10, and will be an anchor for activity at River Park.
LIFE SCIENCE RESEARCH & OFFICE:
River Park offers the opportunity for world-class research space for the life science cluster in the Upper Valley.
The Master Plan reflects the guiding principles of Lyme Properties: Smart Growth, Mixed-Use, Architectural Excellence & Neighborhood Involvement. River Park is the outcome of Lyme's Neighborhood Planning Process in West Lebanon.
A Vision for West Lebanon
The River Park Master Plan is the result of a deliberate process initiated by the developer, Lyme Properties. After purchasing the parcel in 2007, Lyme undertook a two-year Neighborhood Planning Process that proactively involved neighbors and area stakeholders in creating a vision for the property. The underlying goal was to bring a mix of economic activity back to historic West Lebanon, while managing the impact on the surrounding community.
The Neighborhood Planning Process [link] found strong demand for an expanded tax base, new job development, and public access to the Connecticut River. Equally important, there was strong opposition to another housing "subdivision" or hospital, the two primary uses allowed under Lebanon zoning. A successful, citizen-initiated rezoning referendum in 2010 modified the zoning from Residential (R-3) to include a combination of Central Business District (CBD) and Light Industrial (IND-L), allowing execution of the River Park Master Plan developed in conjunction with the neighbors.
River Park will include a mix of commercial and residential development, as well as street-front retail and open-space to integrate the project into the surrounding community. The life science research laboratory and office spaces bring high-quality job opportunities to West Lebanon. On the southern edge of the site, a "buffer" of single family homes and rental housing blends the project into the adjacent Crafts Avenue neighborhood.
Public Access to the Connecticut River
The Connecticut River is an extraordinary resource, and has always been an engine of economic development in the Upper Valley, and a source of recreation. However, public access to the River in West Lebanon has been limited. During the Neighborhood Planning Process it was very clear that the community would greatly benefit from improved access. Through the Friends of River Park, public access will be a guaranteed element of this development.
River Park will be built in 7 phases over 15 years, following the Master Plan. This phased growth allows for buildings to "come on-line" over time, adjusting for market demand and the absorption rate of the Upper Valley. Parking will be built in stages as well, starting with surface-parking for the first phases, and eventually the two multilevel parking garages when demand allows.
Parking & Traffic
Two of the biggest concerns with any real estate development, especially one the size of River Park, is the availability of sufficient on-site parking and how much new traffic will be generated. River Park's focus on life science space is not only to assist and to attract growing companies and quality jobs, but to mitigate traffic concerns. Research space generates the lowest traffic demand per square-foot of any commercial use. Additionally, the two multilevel garages allows for more of the property to remain as open space instead of asphalt parking lots. The CBD zoning also allows one of the garages to be a park-and-ride facility, a regional planning objective to reduce single-occupant vehicle traffic. Advance Transit has agreed to put a bus stop on the site.