The Nest
Nedde Real Estate Celebrated the groundbreaking of 79 Pine Street, known as “The Nest”. The 47,000 Square foot building will add 49 apartments in Burlington’s Downtown District and is the first new apartment project in the Downtown District in two decades. The apartments will be a combination of lofts, one bedroom and two bedrooms, with 20% of the apartments offered as affordable housing. The nine story, energy efficient brick and steel building will incorporate lots of glass to capture the stunning lake and mountain view.
Total project cost: $17,000,000
60 Krupp Drive Industrial Expansion, Williston, VT
Doug Nedde partnered with the Leah Booska Trust of Burlington, VT, to development 60 Krupp Drive, Williston building serving long-time tenant, Fleetpride. Fleetpride wanted to expand its existing location on a compact site while continuing to use the building throughout. Nedde provided a turnkey solution coordinating all aspects of the project including lease extension, design, permitting, financing, construction management, and investment in the finished product. The 10,000 sf addition will result in a modernized 24,000 sf facility that will be completed in early 2022.
Total project cost: $3,200,000
77 Pine Street
Doug Nedde purchased and commenced renovations in Spring 2020 on the 95,000 SF People’s United Bank Building. It will be repurposed as 50 apartments and a smaller, modern Vermont headquarters for People’s United Bank. The newly renovated building will be fitted with environmentally friendly exterior insulation, windows, heating, and air conditioning systems. A 100 KW solar array will be installed on the roof. This building will provide well located downtown housing and a long term home for People’s United Bank.
Total project costs: $24,000,000
Battell Block Middlebury
In 2017, Doug Nedde purchased the historic Battell Block building in downtown Middlebury with Alain Youkel. This 68,200 SF mixed-used commercial building was converted into 29 new luxury apartments, office space and retail. Using historic tax credits, Nedde was able to refurbish the cultural and historical features of the Battell Block in order to preserve the iconic landmark. This required all new electrical systems, HVAC/plumbing, and sprinkler system in addition to major cosmetic renovations, preserving the building’s historic attributes.
Total project cost: $6,300,000
747 Pine Street
Doug Nedde partnered with Cooper Enterprises, Inc. to redevelop 747 Pine Street from a 1950’s food distribution warehouse to a unique, energy efficient commercial property. The property is now home to Nedde Real Estate, North Star Leasing and Burlington Furniture Company. Features include a deck with canopies and an energy efficient envelope and rooftop solar array.
Total project cost: $7,600,000
Montpelier TD Bank
Doug Nedde acquired the TD Bank building located at 90 Main Street, Montpelier, Vermont in 2015. The historic granite building built in 1905 contains 21,000 SF of class A office. It is home to multiple tenants including TD Bank, ACLU, Buch Speiler Music, Green Mountain Engineering, People’s Action Institute, Sierra Club, State and Main Mediation, The Associated Press, and Vermont Information Consortium. Renovations on the 2nd and 3rd floor have been completed which modernized the office space.
Total project cost: $3,200,000
Riverrun Apartments
Doug Nedde as a Managing Partner with Redstone and Youkel LLC, Developed 56 high-end apartments along The Winooski River. River Run is located in the heart of downtown Winooski.
Total Project Cost: $13,000,000
Redstone Lofts
As a managing partner, Doug Nedde developed the Redstone Lofts, which is a modern, on-campus living solution for students in the UVM Community. This state-of-the-art building contains 144 apartments and 403 beds within its curved walls. The project was completed in the fall of 2012 and was fully leased upon construction completion.
Total project cost: $32,000,000
City Center
Doug Nedde purchased city center, which was originally developed as a shopping mall, this downtown 91,000 SF building and 24,000 SF parking structure is now filled with a mix of high-end office space and retail. Tenants include: the State of Vermont, Edward Jones, Vermont League of Cities and Towns, Artisan’s Hand, The Skinny Pancake, and AT&T. Renovations included a fit-up for the Secretary of State’s and Vermont League of Cities & Towns office and a new front plaza.
Total project cost: $12,500,000
Maple Mill
Doug Nedde and Fernando Cresta acquired 24,950 SF of office, commercial/Industrial space at 1 Jackson Street, Essex, VT from Flex-A-Seal. The building was redeveloped to be a multi-tenant commercial building. February 2020, Chase Moving & Storage leased 9,012 SF of Office and Warehouse Space, leaving three spaces to be leased.
Total project cost: $2,000,000
1891 Williston Road
Doug Nedde and Fernando Cresta acquired 1889-1891 Williston Road from Lee Zachary, owner of Zachary’s restaurant chain, in May 2016. This multi-tenant, 49,299 SF commercial building was already home to tenants Enterprise Rentals, Treehouse Woodworking, MAACO, United Fighting Arts Institute and MOTO VT and was quickly leased to multiple more: IAB International, Ideas Well Done and Hampton Direct. This building has been brought up to its full potential in a short period of time.
Total project value: $3,800,000
784 Hercules Drive, Colchester, VT
Doug Nedde, partnering with 784 Realty, purchased the 61,000 SF former Reinhart Food Service building located at 784 Hercules Drive, Colchester, VT in October 2015. Reinhart Food Service had previously vacated the building for a move to their new Essex facility and the office portion of the building has been since leased to Planned Parenthood of Northern New England. 24,863 Square feet of warehouse space has also been leased to Koffee Kup Bakery 22,500 SF leased to HempVT.
Total project cost: $5,200,000
Bolton Valley Resort, Bolton, VT
Doug Nedde co-owned Bolton Valley Resort, a four-season resort which features beautiful mountain terrain for skiing, hiking, mountain biking, and special events, over a ten year period. During that time period a new quad lift was installed, a 250 person events facility, The Ponds, was constructed and a 150 KW wind turbine was installed among other resort wide improvements. The Partnership sold the resort the delaurei family, who originally developed the resort in 1966.
Total project cost: $13,000,000
19 Thompson Drive, Essex, VT
Doug Nedde acquired 19 Thompson Drive, Essex, from Huber + Suhner Inc., one of the largest US mobile telecommunications operators. This facility consists of two buildings totaling 100,000 SF on 14 acres. Upon purchase, Huber+Suhner leased back 40,000 SF, the remaining 60,000 SF was redeveloped before the entire building was leased to Blodgett Oven.
Total project cost: $4,000,000
RiverHouse Apartments
Doug Nedde as a Managing Partner with Redstone and Youkel, LLC. Developed 72 high-end apartments within this LEED Designated building.. River House is located in the heart of downtown Winooski and within walking distance of restaurants, local interests, and several employers. It offers beautiful strolls along the Riverwalk to boating, fishing and the nature preserve next door.
Total project cost: $16,000,000
500 South Prospect Street, Burlington, VT
Doug Nedde, as a managing partner, acquired Redstone Apartments which is a 200-bed independent apartment complex offering 81 one, two, three, and four-bedroom apartments located on the UVM campus.
Total project cost: $14,000,000
10516 US Route 116, Hinesburg , VT
Doug Nedde, as a managing Partner with Malone Properties, acquired and repurposed / renovated the 88,000 SF former Saputo Cheese facility located on 15.4 acres off Route 116 in Hinesburg, VT. Current tenants include The Public House and Vt. Smoke and Cure.
Total project cost: $5,500,000
2281 Route 66, Randolph, VT
Doug Nedde as a managing partner with Malone Properties acquired the former 75,000 SF Vt Pure water facility. The facility was renovated and repurposed for Vermont Technical College and Max Finkelstein Tires.
Total project cost: $2,800,000
1 Mill Street, Burlington, VT
Doug Nedde as a Managing Partner acquired the historic 90,000 SF Chace Mill. The Chace Mill has an eccentric mix of over 40 tenants. Improvements include energy efficiency upgrades, roof top solar array, exterior modifications to improve the front façade of the building, roof repairs, improved common areas and more.
Total project cost: $5,600,000
161 St. Paul Street, Burlington, VT
The Hinds Lofts are 15 residential loft condominiums located at 161 St. Paul Street in downtown Burlington. Nedde, as a Managing Partner, completely renovated them into one, two bedroom luxury loft condominiums ranging in size from 710 SF to 1,344 SF.
Total project cost: $4,800,000
Route 7, Shelburne, VT
The Shelburne Commons project was the redevelopment of a poorly performing 45,000 SF retail center in Shelburne, VT. The property was acquired by Doug Nedde. The project was particularly challenging, requiring hazardous waste clean-up and substantial property improvements to address deferred maintenance issues. Leasing and tenant fit-up work resulted in 100% occupancy within twelve months of closing on the property.
Total project cost: $4,200,000
133 Elm Street, Winooski, VT
Doug Nedde, as a managing partner acquired a 103,000 SF warehouse and industrial facility. At the time of purchase, the property was vacant and burdened by many year s of deferred maintenance and lack of permits. Significant improvements were made to the site and building upon purchase. The building has operated at full occupancy since December of 1996.
Total project cost: $4,200,000
Banknorth Block , Burlington
The Banknorth Block project is a result of an RFP process initiated by Banknorth, N.A. The development partners, including Doug Nedde, pursued the mixed-use development of a versatile housing and workplace community. The 2.3 acre block already contained the completed first two phases, consisting of The Hinds Lofts and King Street Housing The final phases included the conception and development of a 139 room Hilton Garden Inn , involving the rehabilitation of Woodbury’s Armory at 101 Main Street, putting in an underground parking structure and up to 140,000 SF of mixed-use space. The project was completed in 2015.
Total project cost: $28,000,000
Taylor Park
Doug Nedde acquired the 22,000 SF historical TD Bank located at 6-8 North Main Street in St. Albans from TD Bank in 2019. He began a restoration project that preserved many of its historic features, while adding efficient and modern amenities. The 12 resulting residential apartments and two commercial suites offer a convenient location and stylish downtown option for tenants and businesses in the St. Albans community. Total project cost: $3,400,000