Laconia Area Community Land Trust Receives Over $1.3 Million for Workforce Housing

New Hampshire Housing approves funding to build development near downtown Laconia

New Hampshire Housing’s Board of Directors recently approved over $1.3 million in federal HOME funding for Laconia Area Community Land Trust (LACLT) to construct a new workforce housing development near downtown Laconia.

The new development, called River’s Edge, will provide a mix of one and two-bedroom apartments. The apartments will be offered at rates that are affordable to the local workforce, and residents will have access to a Resident Services Coordinator who will offer advice and service referrals. The development, which will be located directly across the Winnipesaukee River from city hall, will also include a river walk. The river walk is just one component of a larger city effort to connect the downtown with residential neighborhoods.

In addition to this latest round of funding, River’s Edge will leverage significant private investment for affordable housing construction through the sale of federal Housing Tax Credits previously awarded by New Hampshire Housing. The Housing Tax Credit program has a proven track record of creating effective public-private partnerships, boosting economic activity by creating jobs, and reducing the need for direct public subsidies.

“We were happy to respond to the City’s request to develop this property,” said Linda Harvey, Executive Director of LACLT.  “It’s a very challenging site but will yield a great resource.  River’s Edge will provide 32 smaller-sized units that are all handicap-accessible, and the convenient downtown location provides shopping and services.  We are grateful for this financing that will move the project forward.”

“For many working individuals and families, making rent can pose a challenge if rates are high,” said Dean Christon, Executive Director of New Hampshire Housing. “Workforce housing developments like River’s Edge provide people with safe, quality housing at rates that are affordable. We’re pleased to be able to support this project, and we’re looking forward to seeing the impacts it has on the Laconia community.”

New Hampshire Housing Approves $1.2 Million for Wolfeboro Housing Project

Funding will be used to create affordable family housing

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.”

New Hampshire Housing Approves Financing for Phase Two of Tilton Development

New Hampshire Housing Finance Authority’s Board of Directors committed to financing phase two of the Lochmere Meadows project in Tilton at its recent board meeting.

Located approximately four miles from downtown Tilton, the Lochmere Meadows development provides affordable family rental housing.  This second phase will add 19 two-bedroom units within three buildings on the development site.  Lochmere Meadows phase one comprises 28 units of workforce housing and was completed in 2010.

The developer of the Lochmere Meadows project is the Laconia Area Community Land Trust (LACLT), which has created just over 200 family rental units in their regional service area, most of which have been financed by New Hampshire Housing.

“We are pleased to be able to help the Laconia Area Community Land Trust develop this next phase at Lochmere Meadows,” said Dean Christon, executive director, New Hampshire Housing. “The Tilton area has a significant need for affordable housing and the additional 19 units will be invaluable to providing housing for families in the area.”

Construction on phase two at Lochmere Meadows is expected to start at the beginning of September and the units are expected to be ready for occupancy in early Fall 2013.

 

New Hampshire Housing Offers Foreclosure Counseling Grants to Six Non-Profits in New Hampshire

New Hampshire Housing Finance Authority today announced that its board of directors has awarded grants totaling $200,000 to six New Hampshire non-profit organizations to provide pre- and post-foreclosure counseling, and related legal services.  The awards are expected to support counseling services for more than 1,000 individuals statewide.

The following non-profit organizations will receive foreclosure counseling grants:

1.)                Affordable Housing, Education and Development (AHEAD)

2.)                Laconia Area Community Land Trust

3.)                New Hampshire Legal Assistance

4.)                NeighborWorks Greater Manchester and CATCH Neighborhood Housing

5.)                Pro Bono

6.)               

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