Ground Broken For $30M Condo Project
By Patrick Cronin
Hampton Union, Friday, September 8, 2006
[The following article is courtesy of the Hampton Union and Seacoast Online.]
[Photo by Jamie Cohen]
HAMPTON -- A ground breaking ceremony was held Wednesday for the $30 million Royale Shores project, which once constructed will become the largest condominium complex ever to front Hampton Beach.
"This is probably the biggest development since the Hampton Beach Casino was constructed," said Janet Reynolds, who along with her sister, Jean Boudreau, are the owners.
The project will construct a six-story building with 52 high-end luxury units at 377 Ocean Blvd.
Boudreau said the development, which will cater to the upperclass with unit prices from $650,000 to $1 million, will have unparalleled views of the ocean, underground parking and roof top sun deck and pool as well as many other amenities.
"This is going to be one of the most expensive buildings on the Seacoast," Reynolds said.
Several local and state officials joined the sisters and their family at the ceremony to officially welcome the project to Hampton Beach.
"This is a top quality development that we would like to see more of at Hampton Beach," said Town Planner Jamie Steffen. "And it will be a vast improvement to what is currently there."
The project, which is expected to be completed in late 2007 or early 2008, will take the place of the Sea Castle Motel and roughly 20 small cottages that were once on the site.
Boudreau and Reynolds originally purchased the Sea Castle motel about six years ago, hoping to run it as a business and later hand it down to their children.
"It just didn't work out," Reynolds said. "It wasn't economically feasible."
They shifted to plans for the Royal Shores development four years ago. Plans began to come together when they secured financing with Amalgamated Bank and gained approval from the town's Planning Board, according to Boudreau and Reynolds.
Hampton state Rep. Tom Gillick called the project one of the most important things to come to Hampton in a long time.
"This is going to help Hampton Beach become the year-round resort community that we want it to be," Gillick said. "The investment of private money is important to all of us and we want to see more of it."