The secretive business that manages billions for Fidelity Investments' controlling shareholders plans to expand in Salem, N.H., with new offices in a secluded setting just north of the Massachusetts border.
The project calls for a three-story office building with about 200 employees located on a wooded site near Interstate 93, according to documents filed Friday with town planners.
"We like the area and we are just exploring future opportunities for the Crosby Group," said managing director Geoffrey von Kuhn in a statement yesterday.
The Crosby operation quietly relocated from Fidelity's downtown Boston headquarters in late 2010 to take advantage of New Hampshire's favorable trust laws. From its rented space in a nondescript office building on Keewaydin Drive, the firm manages the personal wealth of Fidelity Chairman Ned Johnson and his extended family.
Privately held Fidelity has a growing campus about 20 miles away in Merrimack, N.H., but spokeswoman Anne Crowley stressed the Salem office "is not a Fidelity project."
Crosby represents an expanding business for Salem, but the project would actually supersede the landowner's previously approved plans to extend Keewaydin Drive and build a major corporate park that could create 875 jobs.
By comparison, Crosby's plan would consolidate three lots and place a single, 75,000-square-foot building on 50 acres — with less than a quarter of that estimated job growth.
Last year, the town of Salem secured a special state designation for the land deeming it an "economic revitalization zone" where expanding businesses can be rewarded with tax credits of up to $200,000.
"Certainly the more jobs we're able to create, the better off everyone is, but at the same time we're hoping (the project) will be a stimulant for additional economic development," said Salem town manager Keith Hickey.
The project faces a review by Salem's Planning Board. Landowner Robert Hannon, a radiologist with offices nearby, could not be reached for comment.
According to plans filed by a Crosby affiliate, the new building would sit on the edge of a hill and avoid wetlands, "taking advantage of views to the south across Porcupine Brook."
"I've been told that this project is one where security will be paramount ... so they don't want the road to go through," said Ross Moldoff, Salem's planning director. "It's very private."
The site is adjacent to a former Furniture World warehouse store that another Crosby affiliate bought for $6.4 million in 2007. The use for that building, just visible beyond a security gate, is unclear.
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