December 8, 2011 By Paul Leighton
BEVERLY – In what officials are calling one of the largest private investments at Beverly Municipal Airport, a Manchester-by-the-Sea man plans to build a $1 million hangar to store his personal airplanes.
The Beverly City Council on Monday night approved a lease agreement for David Ellrich of Great Circle Central LLC to construct the hangar on the Danvers side of the city-owned airport.
Airport Commission Chairman Paul Vitale said Ellrich plans to invest about $1 million to build a new hangar that would house three or four of Ellrich’s airplanes. His investment will include the construction of a new road to the hangar, as well as security fencing and lighting.
“It’s probably the largest, or close to the largest, single private development at the airport,” Vitale said. “We’re very excited about it.”
Ellrich did not return calls seeking comment.
Ellrich will pay the Beverly Airport Commission, which oversees the airport, $8,000 per year to lease the land, Vitale said.
The hangar will be 115 feet long by 80 feet wide. Ellrich, who is in the financial management business, will use the hangar as a base for three or four of his own corporate airplanes, Vitale said.
The development is the latest sign of growth at Beverly Airport. It will be the sixth new hangar built since 2006. There has been close to $8 million in state, federal and airport commission investment and $3 million in private investment, including Ellrich’s project, in the last five years, Vitale said.
“A substantial amount of money has been pumped into the airport,” he said.
Vitale said the airport generates about $20 million worth of annual economic activity for the North Shore. The airport has about 60,000 takeoffs and landings per year.
Source: THE SALEM NEWS