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Randolph revival goes downtown

Vermont Business Magazine, Dec 01, 2003 by Brush, Cassandra Hemenway

Orange County has had its share of hard hits, with Ethan Allen closing its furniture plant two years ago, and Waterbury Companies announcement this year that it is closing production and moving to China. It will leave behind 70 jobs. The county's unemployment rate has increased from 2.4 percent in September 2002 to 2.9 percent in September 2003, but nonetheless, other indicators show an economy on the rebound.

Even as Waterbury Companies readies to close its doors, both Ultramotive of Bethel, and LEDdynamics of Rochester have inquired about occupying the plant, according to Lynn Irish, director of the Randolph Area Chamber of Commerce.

"So things must be good for them," she added.

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Four major pieces of downtown Randolph commercial real estate have changed hands in 2003, according to Jeremy Ingpen, executive director of the Randolph Area Community Development Corporation.

"In commercial real estate, we've seen a lot of activity," he said.

The old Brooks Pharmacy building and the former railroad depot were both acquired by Jesse Sammis, Jr, owner of the Three Stallion Inn and New England Land Company, Ingpen said. Sammis could not be reached to comment on his plans for the properties.

The old grain store building in downtown was acquired by the Millstone Agency, Ingpen said, and will be refitted to become Millstone's headquarters.

Ingpen indicated that "another quite large commercial and apartment building has been acquired," although he said he wasn't at liberty to discuss it in further detail.

RACDC has also broken ground on a 23,000-square-foot office building in downtown Randolph on the site of the former village school. The building is slated to be the headquarters for the engineering company Dubois and King. It will

bring 70 jobs into downtown, Ingpen said. Dubois and King will be moving from

its current location three miles out of town.

The Dubois and King building was financed in part by a $216,000 assumption agreement advanced through the Connecticut River Valley Revolving Loan Fund from Rural Development, according to Robert Webber, CEO of Green Mountain Economic Development Corporation, in his annual report. Webber wrote that the Dubois and King groundbreaking in October attracted a site visit from the US Undersecretary of Commerce while he stayed in the area.

A new company, Vermont Plywood LLP, plans to buy and operate the former Chesapeake facility in Hancock, according to Webber. The town of Hancock "enthusiastically" supported the project during an October public hearing, when it initiated the process for a $750,000 community block grant "to demonstrate their commitment," said Webber. The proceeds of the grant will be loaned to Vermont Plywood for working capital and equipment purchases. Webber wrote that GMEDC may be administering the grant.

A new retail outlet, Vermont Oz Adventures, has leased space in Randolph for its extreme sports and trekking business, said Ingpen. Vermont Computing Inc also moved to Merchant's Row recently, and the White River Coop has acquired its property rather than continuing to lease it.

"All of this indicates a quite active real estate market," said Ingpen.

In a $1.5 million construction project, RACDC is creating 12 units of affordable housing, Ingpen said. There will be two four-unit buildings. RACDC is also demolishing and rebuilding an existing five-unit apartment house.

"We have very little affordable housing; the market is extremely tight," he said.

Irish, director of the Randolph Area Chamber of Commerce, reported she knows of a few "large, multimillion dollar private homes" being built in the Randolph area, along with a few new townhouses for "moderate income" families.

"(Housing) pressure is coming up from the Upper Valley," said Ingpen. "That affects our housing market, too. The pressure and price there is so intense, people are looking to the next circle."

As is the case across Windsor County, Orange County has also been troubled with a recent change in room bookings from the typical two nights to one night, Irish commented. Columbus Day weekend "was a disappointment to many," she said. Beth Kennett of Liberty Hill Farm in Rochester reported a lot of bookings in September and October, however, and filled in November's bookings back in September. Sweetserenity Bed and Breakfast experienced a range of one-night bookings to seven nights, Irish said.

Irish reported that while tourism has "leveled out" recently, she expects an upswing with renewed interest in winter in Vermont, "cut-your-own-tree" businesses, sleigh rides, and of course, skiing. Both Irish and Ingpen said Randolph's Christmas promotion boosted seasonal sales last year, and they expect it to happen again.

The town puts on an annual Holiday celebration each December, with a Festival of Lights, and a Fantasy Parade. The celebration centers on a "buy local" theme, pushed by the Chamber in its holiday promotions. Ingpen said the promotion was "very successful" last year.

She also reported that people are increasingly getting involved with their Chambers, either through memberships or event support.

Randolph revival goes downtown

Vermont Business Magazine, Dec 01, 2003 by Brush, Cassandra Hemenway

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