Five New Hampshire Projects Receive Tax Credit Reservations

BEDFORD, N.H. – May 11, 2011 – (RealEstateRama) — At its recent meeting, New Hampshire Housing Finance Authority’s Board of Directors approved the commitment of nearly $3 million in federal tax credits that will be used to support construction of 218 new affordable rental units throughout the state. These tax credits will leverage $24 million in private equity investment in five new housing developments helping to create approximately 500 construction-related jobs.

Projects that were awarded tax credit reservations include the following:

Conway Pines, Conway –Sponsored by Great Bridge Properties of Manchester, Conway Pines will create 32-units of housing for families. All of the apartments will serve low-income households.

Housing at the Meeting Place, Exeter, Phase II –The second phase of a larger mixed-use project, the development will add 26 units of senior housing to the community. These units will serve low- and moderate income households. The project sponsors are Robert and Marsha Felder. Phase I of the project, completed in fall 2010, created 32 affordable family housing units.

Cheshire Brookbend, Keene –Sponsored by Monadnock Affordable Housing Corporation, an arm of the Keene Housing Authority, the project will replace older rental units that can no longer serve the community with 35 new townhouse-style apartments. All of the units will serve low-income households, and supportive services will be provided for residents of the development.

Cotton Mill, Nashua – An eight-story historic mill building in downtown Nashua will be renovated to create 101 units of market rate and affordable rental housing for families and individuals. The project sponsor is Stabile Companies of Nashua.

Plymouth Woods, Plymouth – Sponsored by First Plymouth Investment Corporation, the housing development will be made up of four townhouse-style buildings, adding a total of 24-units of affordable housing to the area.

New Hampshire Housing Finance Authority is a self-supporting, public benefit corporation that 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 .

Contact:
Jane Law
Phone: (603) 310-9255