The Jackson Falls Condominiums in downtown Nashua offer views of the Nashua River. The homes are near one of the last surviving railroad-oriented buildings still surviving in Railroad Square.

NASHUA – You can see it from Main Street, Canal Street and Railroad Square. The Jackson Falls condominium building is hard to miss with its tall windows and prominent location on the north bank of the Nashua River.

Each of the 22 luxury units is still under construction, but will be ready this fall – for those who can afford the $337,500 starting price tag. Units go as high as $439,900.

The new condos add housing to downtown and should promote the adjacent Riverwalk, the city’s 700-foot boardwalk under construction from Main Street to near the Jackson Falls dam.

“This is the first new investment in market-rate housing that we’ve seen in downtown in decades,” said Jay Minkarah, the city’s economic development director. “Once people see this prominent example of new investment in this area, it will stimulate other property owners to redevelop or rehabilitate their properties.”

The five-story complex is between the Irish pub the Peddler’s Daughter and Margarita’s Mexican Restaurant and Watering Hole. The area is home to several dilapidated buildings as well as some upscale businesses, including the new Riverwalk Cakery and Coffeehouse, at 35 Railroad Square.

“I think they’re priced right,” said Martha Baroody of Prudential Rush Realty, the real estate agent for Jackson Falls. “With the quality and the lifestyle and the location, it’s going to be a homerun.”

Baroody said she started marketing the condos less than a month ago and she already has five units reserved and one under agreement. A sales center for the condos will open soon at 83 Main St., on the corner of Main and Water streets.

“We’re getting a lot of interest,” she said. “Really, it’s the downtown lifestyle, it’s the active lifestyle with the restaurants, boutiques. You’re in the mecca of Nashua. I just think the building itself is going to change the face of that area.”

When completed this fall, the building will have a brick facade. Each unit will have granite countertops, hardwood floors, marble baths, a security system, central air and private balconies.

Ground-level parking underneath the first level will include elevator access to the units, which are at least 1,300 square feet. The largest unit has 1,369 square feet, Baroody said.

The most expensive units are those on the top level. “We have a penthouse level and a couple of lower penthouse levels,” she said.

People who have expressed interest thus far include young professionals who work in Nashua, and people looking to downsize from homes in Amherst, Bedford, Hollis and Nashua, Baroody said.

Minkarah said he had the chance to go into the building and was impressed with the water and city views.

“I always expected that the views were going to be nice, but the views were much better than what I expected,” he said. “Some of them just looked like a framed picture.

“I’m confident,” Minkarah said, “when it’s completed it’s going to look as though it’s always belonged there.”

Karen Spiller can be reached at 594-6446 or .