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Robynne Alexander was the initial winning bidder on the 220-acre Laconia State School property. She then failed to close on the sale, and now faces prison time.
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The buyer has two years to close the deal, and the project may begin with commercial development, not the housing city officials say is desperately needed.
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The state’s chosen buyer, who offered $21.5 million in cash, missed her Monday deadline to close the deal despite receiving three extensions.
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The state of New Hampshire tells the chosen buyer of the Laconia property to "put up or shut up."
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The would-be buyer has big plans for the former Laconia State school property, but the final sale has been delayed.
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The development team reduced the number of housing units after an updated analysis of the Lakes Region housing and tourism market.
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Two members of the state's review committee said they were not given the developer's financial information or professional portfolio. They said they learned of her inexperience with such a large project and tax liens from a New Hampshire Bulletin story.
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One proposal includes 1,300 housing units, a conference center and recreational space.
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A panel looking at redeveloping the former Laconia State School is pushing back on concerns about a request for money from the state.The Lakeshore…
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A plan to redevelop the former Laconia State School property into a potential mixed-use complex won't be as environmentally complex as expected – but will…