Economic impact numbers for the proposed Head’s Pond project in the northeastern part of Hooksett showed the 428- unit housing development would likely generate about $3 million in property tax revenues for the town.

Russell Thibeault, the consultant with Applied Economic Research hired by Manchester Sand and Gravel to study the development’s effects on the town, made a PowerPoint presentation for his part of the Hooksett Planning Board’s public hearing on the entire development on Jan. 28 at the library.

Thibeault’s study included projections of the development’s tax revenue; estimated enrollment increases for each of the schools; projected road, public safety, recreation and school impact fees; and projected revenues from water and sewer hook-ups.

Housing prices run from around $300,000 for smaller lots and units surrounding a three-acre town common, which the developer will donate to the town, up to $600,000 for 167 homes in “Broad Arrow Estates,” the northernmost section of the development.

Other single-family homes and townhouses will run at about $400,000 to $450,000.

Thibeault said the assessed value of the property would skyrocket to more than $158 million with the development. The land is currently assessed at just over $3 million.

Thibeault’s calculations showed the 1,200-acre development, which will be completed in eight phases over about a decade, generating about $3.2 million over and above what the land currently makes in tax revenue; $2.5 million in one-time school, public safety, recreation and highway impact fees; and about $1.8 million in combined water and sewer services.

A line graph showing the town’s job growth compared with housing growth showed them rising at around the same rate, but Planning Board member Joanne McHugh pointed out those jobs were mostly in retail. “Those types of jobs don’t necessarily support the ability to afford these types of homes,” she said.

Thibeault agreed with McHugh. He later said the development was likely geared toward metropolitan residents working in Concord or Manchester.

Projections based on a school study conducted in 2007 show the development will add 210 students overall into the school system. That translates to .49 students enrolled per household for the development compared to .41 concluded in Mayberry’s study on the whole town.

Thibeault’s numbers showed the schools would have overall excess capacity for 360 to 550 students after the development is completed.

Some residents living in the area, as well as those in Allenstown, have expressed concerns about the increased traffic flow the development would bring to Route 3 drivers.

The state Department of Transportation has yet to determine whether a traffic signal should be installed at the intersection of Route 3 and Head’s Pond Boulevard, the main access into the development.

The Board of Selectmen in Allenstown expressed in a letter to Hooksett’s Planning Board they were anticipating the benefits Allenstown would reap from the development, which rests on the border between the towns, but would like to see a 75-foot buffer zone within the town line, a traffic signal at the main entrance on Route 3 and a water study.

Allenstown Police Chief Shaun Mulholland acted as an agent of the Allenstown Board of Selectmen at the public hearing and presented the Planning Board with the letter.

David Campbell, attorney for Manchester Sand and Gravel, said the developer would evaluate traffic patterns before each phase and halfway through the second phase, which is the largest portion of the development.

The plans also include 213 acres of donated land for public use, including several water bodies and waterfronts with public boat landings, the common, 97 acres for a town park, three acres for the railroad bed bordering Allenstown, 27 acres for a parkway through the development, and several parking lots to access the public areas.

The land donation surpasses the amount of land specified in the Master Plan for the mixed use district by almost 75 acres. Campbell said they are working with the Conservation Commission and the New Hampshire Audubon Society about creating a bird sanctuary in the area surrounding the Great Marsh.

The Planning Board deemed the application complete in November. The next step is to get the public’s input and send it to the Hooksett Town Council for final approval.

Stantec, the town’s consulting engineering firm, is currently reviewing the proposal to iron out any last-minute details, said Town Planner JoAnn Duffy.