Funding will be used to turn historic mill building into affordable housing
BEDFORD, N.H. – January 30, 2013 – (RealEstateRama) — New Hampshire Housing’s Board of Directors recently approved $1.5 million in federal funding from the HOME Investment Partnerships Program for Woodbury Mills, a project that plans to renovate a historic mill building near downtown Dover and create affordable housing.
When completed, Woodbury Mills will offer 42 units of affordable family housing. The project, which is sponsored by The Housing Partnership in Portsmouth, is also supported by previously-awarded Federal Housing Tax Credits, which encourage private investment in new, affordable rental housing. The HOME and Tax Credit programs are administered in the state by New Hampshire Housing and are known for reducing the need for public subsidies, creating local jobs, and attracting investment dollars to the state.
“The Housing Partnership is grateful to New Hampshire Housing for once again choosing to invest its resources with us to address the acute need for workforce housing on the Seacoast,” said Marty Chapman, Executive Director of The Housing Partnership. “The Woodbury Mills project near downtown Dover is a manifestation of our shared goal of creating of high quality affordable housing with access to public transportation, employment opportunities and ample public and private services.”
“Woodbury Mills is a great example of a project that will preserve Dover’s historic past while meeting its present need for affordable housing,” said Dean Christon, Executive Director of New Hampshire Housing. “We are happy to be able to support it not just through Housing Tax Credits, but also through this additional funding.”
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 more than 39,000 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 website at www.nhhfa.org or www.gonewhampshirehousing.com.
Contact:
Jane Law
Phone: (603) 310-925
