Bedford, NH – October 25, 2008 – (RealEstateRama) — At its recent meeting, the Board of Directors of New Hampshire Housing Finance Authority approved the reservation of Federal Housing Tax Credits for three development projects that will add 70 new affordable rental units to the state’s housing supply.
Romano Place is a proposed 16-unit affordable housing project designed to meet the ongoing need for affordable housing in Lebanon by adding to the successful 30-unit Romano Circle community, owned and managed by the Lebanon Housing Authority. There will be two one-bedroom units and 14 two-bedroom units. Four of the units will be accessible and located on the ground floor.
Housing at the Meeting Place in Exeter will provide 32 newly constructed affordable family units. The 39,000-square-foot building will be four stories tall and will feature 30 two-bedroom units and two one-bedroom units. The site is made up of 21 acres and will contain a four season walking trail system. The project is sponsored by developer W. Robert Felder.
A new 26-unit family housing project will be constructed on the campus of Crotched Mountain in Greenfield. The project will house disabled individuals as well as their families, and the building will consist of eight one-bedroom units, 15 two-bedroom units and three three-bedroom units.
Four units will feature completely accessible common areas and the other units will adhere to universal design principles. The project sponsor is Crotched Mountain Foundation and construction is anticipated to begin sometime during calendar year 2009.
Finally, Rye Airfield Retirement Community, which was approved for additional credit reservations, will offer 22 newly constructed affordable senior units set on a 10.5-acre parcel. There will be 19 one-bedroom units and three two-bedroom units as well as an on-site Community Center. The sponsor of this project is The Housing Partnership.
New Hampshire Housing Finance Authority is a nonprofit, public benefit corporation established by the state legislature. The Authority operates a number of programs designed to assist low- and moderate-income persons to obtain housing. Since its inception, New Hampshire Housing has helped more than 37,000 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 Web site at www.nhhfa.org.