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$22m awarded to six housing projects.


The New Hampshire Housing Finance Authority has approved $22 million in financing for six projects that will add 148 affordable units to the state's housing supply.

The projects will receive federal Low Income Housing Tax Credits, Tax Credit Assistance Program funds or direct federal financing in lieu of tax credits, as well as HOME funds through the U.S. Department of Housing and Urban Development--funding made possible through the American Recovery and Reinvestment Act,

Projects receiving funding are:

* Town and Country, Littleton, providing family housing with a total of 25 units--I7 two-bedroom units and eight three-bedroom units. The project, planned by AHEAD Inc., will receive direct financing in lieu of tax credits and federal HOME funds.

* Romano Place, Lebanon, which will add 16 units to the 30-unit Romano Circle community. The project, owned and managed by the Lebanon Housing Authority, will include two one-bedroom units and 14 two-bedroom units with four accessible units located on the ground floor. The project will receive direct funding through ARRA's Treasury program.

* Braemoor Woods, Salem, which will provide 26 units of housing for low-income seniors. The project will be part of a larger community of multi-family market rentals and condominiums. There will be 21 one-bedroom units and six two-bedroom units. Developer is Steven Lewis Inc. This project will receive direct financing in lieu of tax credits,

* Manchester Housing and Redevelopment Authority plans to acquire a property currently owned by the Knights of Columbus on South Porter Street. The project proposal calls for the demolition of a cinderblock structure currently occupying the site in order to construct 31 units of senior rental housing. The project will receive Treasury funding and federal HOME funds.

* Parmenter Place, Concord, will consist of 25 family units. When complete, there will be 11 two-bedroom units and 14 three-bedroom units, The developer is Concord Housing Authority. The project will receive direct financing in lieu of tax credits.

* The Townhomes at Abingdon Square, Goffstown, will feature 25 units of family housing on a site off Mast Road. All of the units wilt serve tow-income households, with six units reserved for households below 50 percent of the median area income. Fifteen of the units will be two-bedroom apartments, and there will be 10 three-bedroom apartments. The project developer is NeighborWorks of Greater Manchester, Low Income Housing Tax Credits and federal HOME funds will provide financing for the project with TCAP funds anticipated.

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Title Annotation:REAL ESTATE & CONSTRUCTION
Publication:New Hampshire Business Review
Geographic Code:1U1NH
Date:Jul 17, 2009
Words:399
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