Nashua senior housing project seeks to grow
Looking at a waiting list of six months to two years for apartments, the Huntington at Nashua senior community is moving forward with its original plan to expand by building 23 cottages on the property.
Given the influx of older residents to the area – and the nation’s aging population – executives and directors of the private, nonprofit retirement community decided the time was right, according to a statement.
Marketing Director Judy Franseen said construction will not begin for about a year, as the Huntington is required to pre-sell 14 units to get a bond to finance construction and then must wait for the money.
Franseen said reservation deposits are being accepted now, with the full balance due before move-in. The 1,800-2,200 square foot units, planned years ago, will begin at $550,000, she said.
“In comparison to competition across the border, the units are significantly larger and significantly less expensive,” Franseen said.
Senior housing communities have sprung up across New Hampshire in recent years. However, most have been profit-seeking development projects.
The Huntington, a building off of Spit Brook Road in south Nashua composed of 124 independent living apartments, 12 assisted living units and a 24-bed nursing facility, was developed by Hunt Community Inc., which operates a large not-for-profit continuing care home on Allds Street in Nashua.
The most recent report – submitted in October – lists total assets of the organization topping $37 million for the period ending April 30, 2006.
The Huntington is situated on 52 acres of land, 21 of which cannot be built upon because it’s deeded conservation land, Franseen said. After the cottages are complete, their property will likely be completely built out, she said.
Also, as part of the building project, the Huntington will expand common areas in its current building to accommodate extra residents.
Upon completion, there will be auditorium seating for 200-300 people, expanded dining and fitness facilities and more gathering and card rooms, Franseen said.
Franseen was not sure how much the project is going to cost, and she said she could not reach the chief financial officer Friday afternoon to get the figure.
Five initial reservation deposits have been made in the last two weeks, Franseen said.
To live at the Huntington, a senior must be independent and older than 62. After moving in, all residents are guaranteed lifetime care. – THE TELEGRAPH