Funding will be used to create affordable family housing
BEDFORD, N.H. – April 5, 2013 – (RealEstateRama) — New Hampshire Housing’s Board of Directors recently approved $1.2 million in federal funding from the HOME Investment Partnerships Program for the second phase of construction at Harriman Hill, a permanently affordable housing development in Wolfeboro.
Sponsored by Laconia Area Community Land Trust and Eastern Lakes Regional Housing Coalition of Wolfeboro, the development’s first phase was completed last summer and created 24 permanently affordable apartments. This next phase of construction will add six buildings of apartments that will be set at affordable rental rates for families. It will provide a variety of one, two- and three-bedroom apartments. A third phase of construction is planned for the future. The project grew out of the work of the Eastern Lakes Housing Coalition, which continues to promote a diversity of housing in the region with an emphasis on responsible housing for the workforce.
Stuart LaSalle, Finance Director at Laconia Area Community Land Trust, noted that HOME funding has helped Laconia Area Community Land Trust create over 200 affordable apartments in Wolfeboro, Tilton, Meredith, Laconia, and Belmont since the organization’s inception. The funding has in turn generated over $60 million in local economic impact. He said this latest installment of HOME funding for Harriman Hill Phase 2 is one of the largest the organization has ever received, and will help ensure the organization can continue to provide needed affordable housing and help the local economy through paying real estate taxes.
“We have a waiting list growing for Phase 2, which is exciting, and Phase 1 is 100% occupied,” he said of Harriman Hill. “We’ve gotten some excellent feedback from the residents living there. It’s a beautiful project.”
“Affordable housing for families is greatly needed across the state,” said Dean Christon, Executive Director of New Hampshire Housing. “We’re happy to be able to fund the expansion of Harriman Hill so that more families can live at a reasonable cost in the areas near where they work.”
About New Hampshire Housing Finance Authority: New Hampshire Housing Finance Authority is a self-supporting public benefit corporation. The Authority operates a number of rental and homeownership programs designed to assist low- and moderate-income persons with obtaining affordable housing. Since its inception, New Hampshire Housing has helped nearly 40,000 families purchase their own homes and has been instrumental in financing the creation of more than 14,500 multi-family housing units. More information about its programs can be found on the agency’s websites at www.nhhfa.org and www.GoNewHampshireHousing.com.
Phone: (603) 310-9255