State revenue got a helpful one-time shot in the arm. Now what?
Analysts fear that once it’s gone for the remainder of the fiscal year, overall revenue will lag unless other accounts, which have been underperforming to date, pick up the pace
Six multifamily projects OKd for LIHTC, other funding
Total of 341 units will be mix of market rate, affordable
39 new two-bedroom units – 31 of which will be reserved for households with incomes below 60% area median income – are planned for the Pembroke Road Apartments project in Concord.
Financing for six multifamily housing developments in Concord, Hillsborough, Nashua and Rochester with a total of 341 units was approved in December by New Hampshire Housing. They are being funded through the allocation of Low-Income Housing Tax Credits (LIHTC), along with other federal and state funding.
The projects are:
- Concord: Pembroke Road Apartments (Tamposi Brothers Holdings LLC/Brookline Opportunities LLC): New construction of 39 general occupancy two-bedroom units. Of the total units, 31 units will be reserved for households with incomes at or below 60 percent of the area median income (AMI), four units at or below 50 percent of AMI, and four units at or below 30 percent of AMI for households participating in the Section 811 PRA program which serves individuals with severe mental illness.
- Concord – Sheep Davis Road (CATCH Neighborhood Housing): New construction of 48 general occupancy units (28 one-bedroom units, 17 two-bedroom and 3 three-bedroom units). Of the total units, 12 will be market-rate units, seven are for households with incomes at or below 60 percent of AMI, 17 are for households with incomes at or below 50 percent of AMI, and 12 units at or below 30 percent of AMI are for households participating in the Section 811 PRA program.
- Hillsborough: Hillsborough Heights (Avanru Development Group): New construction of 42 general occupancy units (24 one-bedroom and 18 two-bedroom) within walking distance of local employers, medical services, and amenities. Of the total units, 33 will be for households with incomes at or below 60 percent of area median income, five units for households with incomes at or below 50 percent of AMI, and four units at or below 30 percent of AMI are for households participating in the Section 811 PRA program.
- Nashua: The Apartments at 249 Main Street-Phase I (NeighborWorks Southern New Hampshire): New construction of 45 general occupancy units (19 one-bedroom and 26 two-bedroom) with a community room and laundry facilities. Of the total units, 21 will be for households with incomes at or below 60 percent of AMI, nine for households with incomes at or below 50 percent of AMI, four at or below 30 percent of AMI are for households participating in the Section 811 PRA program, and 11 units will be market rate.
- Nashua: Coliseum Seniors Residence III (Housing Initiatives of New England Corp.): Acquisition and renovation of an existing 101-unit, age-restricted Section 8 property, and new construction of 32 units. All units will be reserved for households with incomes at or below 60 percent of AMI.
- Rochester: Apple Ridge Apartments Phase III (McIntosh Development LLC): New construction of the third and final phase with 34 general occupancy units (18 one-bedroom and 16 two-bedroom). Of the total units, 25 units are for households with incomes at or below 60 percent of AMI, six units are for households with incomes at or below 50 percent of AMI, and three units at or below 30 percent of AMI are for households participating in the Section 811 PRA program. When this phase is completed, there will be 102 units of workforce housing at Apple Ridge.
