BEDFORD, N.H. – February 8, 2011 – (RealEstateRama) — At its recent meeting, New Hampshire Housing Finance Authority’s Board of Directors approved the commitment of just over $1 million in federal HOME Investment Partnership funds that will be used to add 25 new affordable rental units to the state’s housing supply. In addition, this project will retain or create approximately 60 construction-related jobs during these challenging economic times.
Sponsored by AHEAD Inc., Town and Country, Phase II, will consist of 25 affordable housing units located at three sites in Littleton, N.H. – Manns Hill Road, Cottage Street and Ely Street. In addition to HOME funding, Phase II of this project was approved to receive a reservation of Low Income Housing Tax Credits in April 2010, and it will complete the Manns Hill and Cottage Street development sites, together totaling 47 units for both phases. The Ely Street portion of the Town and Country Project requires the demolition of an existing structure and the construction of a new three-unit building. As part of this financing approval, all of the units (19 two-bedroom, five three-bedroom and one four-bedroom) will serve very low- and low-income households.
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 .
Phone: (603) 310-9255