BEDFORD, N.H. – November 22, 2010 – (RealEstateRama) — At a recent meeting, New Hampshire Housing Finance Authority’s Board of Directors approved the commitment of more than $6.9 million in federal HOME Investment Partnership and other funds for two development projects that will add 24 units of new affordable rental units to the state’s housing supply and preserve 162 existing affordable rental units. In addition, these projects will retain or create approximately 185 construction-related jobs during these challenging economic times.
Sugar River Mills Apartments, Claremont – Sugar River Mills is a 162 unit (studio, one-, two- and three-bedroom apartments) residential property currently serving low- and very low-income seniors and families. The project consists of a converted mill and 10 other residential buildings, and these buildings will be upgraded and improved. Planned renovation work will preserve these housing units and increase their energy efficiency, thereby ensuring Sugar River Mills can continue to offer safe, decent, affordable housing to New Hampshire residents who need it. The project sponsor is Preservation of Affordable Housing, LLC.
Harriman Hill, Wolfeboro – Phase one of the project will add 24 units (one-, two- and three-bedroom apartments) of affordable family/workforce housing to the community, located a half mile from the Village of Wolfeboro Falls and a mile from the center of town. The town of Wolfeboro, following years of state mandated development suspension due to water and sewer issues, recently made upgrades to these systems so that new developments like Harriman Hill could be considered. Harriman Hill will provide much needed affordable housing to workers in the service sector. The project was brought forward by the Eastern Lakes Region Housing Coalition (ELRHC) and it will be operated by the Laconia Area Community Land Trust.
New Hampshire Housing Finance Authority is a self-supporting, public benefit corporation established by the state legislature. The Authority operates a number of programs designed to assist low- and moderate-income persons with obtaining housing. Since its inception, New Hampshire Housing has helped more than 38,000 families purchase their own homes and has been instrumental in financing the creation of more than 14,000 multi-family housing units. More information about its programs can be found on the agency’s website at www.nhhfa.org.
Phone: (603) 310-9255