Barsamian buys former drive-In property

Barsamian says future use of 16.15-acre site yet to be determined

Once the proposed site of a retirement village, then rumored to be a grocery store, land that was once the home for a drive-in belongs to the biggest commercial developer in town.Settlers' Green O.V.P Management president Robert Barsamian of Newton, Mass., confirmed this week that he is part of the real estate investment company which recently bought the 16.15-acre, mostly commercially-zoned former North Conway Drive-in site behind T.J. Maxx for $1 million.Barsamian said he is part of Residences at Saco LLC of Newton. The company bought the site from Scenic Railroad LLC, the company which a Conway town official said he believed to be affiliated with Stop & Shop.We bought it because it was available and we thought it would be a good piece to purchase, Barsamian said from his Massachusetts office Wednesday.We really have no plans at this time for the real estate but we thought strategically it made sense for us to acquire it, since we have a lot of stuff going on nearby at Settlers' Crossing and with everything going on with the redevelopment of the Ames store as a new Christmas Tree Shop next to T.J. Maxx. It's a good move for us as we have a lot of confidence in the area.Similarly, Barsamian said he bought the former North Conway Athletic Club at the end of Barnes Road behind Home Depot and Staples because he believed it made good business sense to own the property that is adjacent to sites he has already developed. That site is near the North-South Road, but selectmen are opposed connecting Barnes Road to the North-South Road.Barsamian's company razed the 1980s-built club three months ago because it had been the target of frequent vandalization.We have had all sorts of talks with the town about possible uses for that site. They include workforce housing and businesses that would not need access on the North-South Road to succeed. We just don't know yet, said Barsamian.Barnes Road connects with MacMillan Way, which leads to Common Court and Settlers' Green. Home Depot and Settlers' Green recently paid for the road improvements to Barnes Road, MacMillan Way and the North-South Road, including construction of the right-turn only lane onto the North-South Road and the median strip leading south from there to the new round-about. KGI, the developers of the new Lowe's and the $26 million redevelopers of the Mountain Valley Mall, paid for the round-about and the improvements south from there to the Route 302-North-South Road intersection.Barsamian said Settlers' Crossing will be anchored by L.L. Bean, Eastern Mountain Sports, Starbucks and Walgreen's.He said the complex includes 80,000 square feet of retail space spread across six buildings. It will include a visitors center run by the Mount Washington Valley Chamber of Commerce and a scenic viewing tower. It is located on the former Yield House site across from the former Fandangle's Restaurant site, which burned in September, and which may be redeveloped as a restaurant and as a second possible business, according to owner Wally Campbell.The Settlers' Crossing site is really a gateway to North Conway, said Barsamian, whose family first developed Settlers' Green Outlet Village in 1988 at the site of the former White Mountain Airport. He said Settlers' Green is 100 percent leased at the moment, while the now-under-development Settlers' Crossing is 70 percent leased.The former North Conway Drive-In site has long been the source of much speculation in the rumor, especially in connection with the Northway Plaza.Stop & Shop had planned to build a grocery store in the former Ames Store at Northway Plaza but withdrew those plans in September 2006. The Massachusetts-based supermarket held the lease on the former Ames building.Druker Company owns the plaza building. Hamlin Greene, of Glen, owns the land. Christmas Tree Shops followed Stop & Shop, and is now developing the former Ames building for its third New Hampshire retail location. The Christmas Tree Shops company has about 35 locations between Maine and Pennsylvania.The exterior of the Ames portion of Northway Plaza is undergoing a major overhaul by Christmas Tree Shops. A clock tower is being raised at the northern end of the building. The exterior's material is being changed to a red brick veneer and will include limestone-colored brick details. The roof will be a gray brick veneer, according to the plans.A decorative cupola is proposed for the top of the building. Brick columns will line the building's front. In September 2003, Scenic Railroad Realty Trust purchased the property to the rear of the Northway Plaza from North Conway Retirement Village LLC. Greene at the time said he believed the trust is affiliated with Stop & Shop, but a spokesman for the grocery chain could not confirm it. When Ames went bankrupt in 2002, Stop & Shop acquired the lease of the North Conway space along with 17 other Ames properties throughout New England for $20 million.Christmas Tree Shops is owned by Bed, Bath and Beyond, a national retailer of home furnishing and accessories.Christmas Tree Shops whose slogan is "Don't you just love a bargain?" sells a wide range of items, from furniture to flower pots to pajamas to perfume.