New Nashua development to offer seniors rent-assisted housing and services
BEDFORD, N.H. – April 21, 2015 – (RealEstateRama) — A new housing development for seniors is moving forward in Nashua due to a combination of federal funding sources from New Hampshire Housing. Salmon Brook Senior Housing, which is sponsored by Southern New Hampshire Services (SNHS) Management Corporation, will bring just over 30 age-restricted apartments to the greater Nashua community.
All apartments will be supported with rental assistance provided through the Nashua Housing Authority. SNHS has also committed to offer case management, service coordination, meals assistance, recreation opportunities, housekeeping and personal care services to residents. The development will be within a mile of downtown and Southern New Hampshire Medical Center.
Salmon Brook received a combination of HOME funds and Low Income Housing Tax Credits, which are both federal funding sources, from New Hampshire Housing. Housing tax credits encourage private investment in the development of much needed affordable rental housing. HOME funds are often used to supplement tax credit funding, further assisting in making rental housing financially feasible to build.
“SNHS is very excited to collaborate with the New Hampshire Housing Finance Authority, the City of Nashua, and the Nashua Housing Authority to sponsor the development of this pioneering, service-enriched elder housing community,“ said Gale Hennessy, Executive Director of SNHS. “The development will offer affordable rents and resident services for very low-income residents of Nashua, enabling them to maintain their independence despite the challenges associated with increasing frailty. We are very grateful for the support we have enjoyed from New Hampshire Housing and the City of Nashua and hope to begin construction within the next several months.”
“We’re proud to support this project by providing this critical funding,” said Dean Christon, Executive Director of New Hampshire Housing. “The additional features of services and rental assistance for all residents is especially important given how many of our state’s seniors live on fixed incomes.”
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 41,000 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.
Contact Jane Law
Phone: (603) 310-9255
