Funding for six multi-family affordable rental housing developments,
which will produce or preserve 166 units of general occupancy,
age-restricted and special needs housing around the state, was recently
approved by the New Hampshire Housing Finance Authority Board of
Directors.
The housing units are in Claremont, Hampton Falls, Laconia, Lebanon,
Plaistow and Rochester. NHHFA funding allocations for the multi-family
housing developments is a culmination of resources derived from the
federal HOME program, the state Affordable Housing Fund, and the federal
Housing Trust Fund, as well as the Federal Low Income Housing Tax Credit
Program (LIHTC).
From these developments, the LIHTC program, a public/private financing
tool that encourages developers and investors to create affordable
housing multi-family units, will leverage $4 million in tax credits into
a public-private investment in the state of at least $35 million. Last
year, NHHFA’s multi-family development activity had a direct economic
impact in the state of $198.4 million, through the construction and
preservation of more than 1,300 rental housing units.
“This range of essential state and federal funding sources enables NHHFA
to provide funding to public and private developers to build and
preserve affordable rental housing in the state. Developing much-needed
housing for the state’s workforce also boosts economic development and
job creation,” noted Dean Christon, executive director of New Hampshire
Housing.
New Construction
Location | Project | Developer
HAMPTON FALLS
The Meadows Phase II: A 48-unit, age-restricted, two-building
development
Avesta Housing
PLAISTOW
Chandler Place Phase II: A 14-unit, age-restricted building.
Steven Lewis, Inc.
ROCHESTER
Apple Ridge Phase I: A 34-unit (22 one-bedroom and 12 two-bedroom),
general occupancy building
David Lemieux
Preservation / Adaptive Reuse
(Housing that is refinanced and improved to extend affordability period;
created or preserved for affordability; buildings repurposed into
housing, e.g., schools, stores, churches, etc.)
CLAREMONT
Claremont Goddard Block: A 36-unit general occupancy project with two
commercial units; purchase and rehab of historic building
New England Family Housing
LACONIA
Sunrise House: A 16-unit of permanent supportive housing for persons
with disabilities 62 years or older; acquisition and rehab of a 13,000+
sq.ft. 3-story office building abutting Laconia Housing’s existing
Sunrise Towers building.
Laconia Housing
LEBANON
Parkhurst Community Housing: An 18-unit supportive housing renovation of
an existing multi-family building to provide for those who are homeless
or at risk of homelessness
Twin Pines Housing
Organization says construction will generate $35 million in
public-private investment
By NHBR Staff
Published: July 25, 2018
NHHFA announces support for six multi-family housing developments
New England Family Housing in The News