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Jul 14, 2015 10:35 PM

City officials hope historic Manchester building gets new life with purchase by Bill Binnie


MANCHESTER - It is a piece of history in the Queen City that has a new future.

President of Carlisle Capital Corporation Bill Binnie has snatched up the Citizens Bank Building in downtown Manchester with big plans in mind.

Binnie is also the founder of WBIN-TV, Binnie Media and NH1 News.

"We'll have residential in the building, we'll also have some commercial space on the ground floor," Binnie said. "We'll be putting our own media properties in there as well, radio, television news operations. We're very excited about that."

Binnie bought the building for $8.175 million.

The Citizen's Bank building was once the tallest in Manchester.

He said he hopes the purchase pays off in dividends for the people of New Hampshire when it comes to the tax base and beyond.

"More restaurants, more places to go, more services, more nightlife - if you will - in Manchester," Binnie said. "That's really what I think this building will be able to help do. Not just one building, but a whole group of buildings, and I think we're part of that."

City leaders said they welcome the renovations.

"I think anytime there's a major purchase and the opportunity to reinvent, that could mean new uses, new opportunities, new energy for downtown," Greater Manchester Chamber of Commerce President and CEO Michael Skelton said. "So, we're very excited to see what the plans are, and it's a great opportunity for downtown Manchester."

Mayor Ted Gatsas said he was excited to hear about the restoration of a historic city building.

"I think it's important that we take a look at this building that's been here as part of the city for many, many years," he said. "And if we can restore it and bring it back to it's glory that would be a great thing."

As for when we will see the restoration project completed?

"We think it will take the best part of a year, most likely until next September," Binnie said.

In the coming months, stay tuned to NH1 News as we closely track the iconic landmark's restoration.


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