Affordable Housing Development in Bow Receives Over $400,000

New Hampshire Housing approves funding for expansion of Bow Highlands

New Hampshire Housing’s Board of Directors recently approved over $400,000 in federal HOME funding for CATCH Neighborhood Housing to construct an additional phase of their Bow Highlands affordable housing development. The new construction will add 16 additional units of family housing to the development’s existing 20 units.

In addition to this latest round of funding, the newest phase of Bow Highlands will leverage private investment for affordable housing construction through the sale of federal Housing Tax Credits. 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.

“The approval of federal HOME funds by New Hampshire Housing is vital for the expansion of the Bow Highlands affordable rental community,” said Rosemary Heard, President of CATCH Neighborhood Housing.  “These beautiful apartments have provided a much-needed addition to the range of housing opportunities in Bow, and this allocation means that even more families will be able to find homes they can afford in Bow.”

“With low vacancy rates and high rents, the current rental housing market can be challenging for working families,” said Dean Christon, Executive Director of New Hampshire Housing. “The expansion of Bow Highlands means more families in the area around Concord will have access to safe and affordable housing.”

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