Quick market stats posted on 5/16.  Check them out and let me know if you have any questions :) 

North Conway in Conway, New Hampshire, is experiencing a significant boom in commercial construction. Despite the town's one-year commercial moratorium on buildings over 50,000 square feet or hotels, which was approved by voters in April, ongoing projects were granted approval before the moratorium was enacted. Projects include the Ridgeline Community development, the construction of a Cambria hotel, a Hilton Garden Inn, a retail complex, and the completion of a Market Basket store. Additionally, plans for a Tractor Supply Co. store, rental housing, and affordable housing projects are in the works.

The construction activity extends beyond North Conway. In Intervale, Ledge View Lodges is building 19 single-family homes, while in Jackson, the Wentworth Inn is undergoing upgrades after being purchased by Atlantic Equity Partners. Attitash Mountain Resort is replacing its summit chair with a high-speed quad for the upcoming season. The town of Conway has seen a significant increase in commercial permits, with construction costs estimated at $19,199,444 this year.

The commercial moratorium was implemented to allow the town's planning board to update the neglected master plan. The goal is to finish this process by January 2024 and subsequently update zoning ordinances. However, the moratorium has affected some projects, such as the planned revamping and expansion of the Yankee Clipper Motor Inn. Local construction experts are amazed by the current level of growth and commercial construction in the area. Residential construction is also expected to catch up, as there are still many residential permit applications being processed.

Despite the moratorium, the construction activity in Conway and the surrounding areas remains robust. The completion of ongoing projects and the approval of new ones will contribute to the town's commercial and residential development.

More details in this story from the Conway Daily Sun

Click here to see a copy of the ruling

On Tuesday, May 2, the New Hampshire Supreme Court ruled in favor of short-term rental owner Scott Kudrick, allowing owners to continue renting properties, at least until the town of Conway decides to regulate them. The case centered on whether non-owner-occupied short-term rentals are permitted in residential districts under the Conway Zoning Ordinance. In January 2022, a county superior court judge ruled that short-term rentals fit within the definition of "residential dwelling unit" and did not need to be owner-occupied in residential zones. The recent New Hampshire Supreme Court ruling upheld this decision, stating that the language of Conway's ordinance did not clearly address short-term rentals and that it was up to the legislature and municipal authorities, not the courts, to consider any policy concerns related to short-term rentals. The town of Conway had previously filed for a declaratory judgment against Kudrick, arguing that "living as a household" required a level of stability in occupying a residential dwelling unit, but the court disagreed. The recent town vote to change a definition central to the case is also unclear in terms of its implications for short-term rentals. The town has been moving toward regulating short-term rentals in commercial zones for several months and has approved funds to expand the building department to allow licensing of short-term rentals and inspections of property.