Tax increment financing proposed for Newington shopping center
A financing arrangement proposed for Newington shopping center is widely used in NH
New Hampshire Housing OKs financing for four multifamily developments
Projects in Conway, Manchester and Nashua get assistance
Financing for four affordable multifamily rental housing developments, with a total of 232 units, has been approved by the New Hampshire Housing Finance Authority.
The financing, which was approved in December, will go toward:
- River Turn Woods, Phase I, Conway, developed by Avesta Housing, a new 40-unit general occupancy building; 30 units will be income-targeted for households, 10 units will be rented at market rate.
- RENEW II, Manchester, developed by NeighborWorks Southern NH, which will rehabilitate three properties with a total of 101 general occupancy units.
- Kelley Falls, Phase I, Manchester, developed by the Manchester Housing & Redevelopment Authority, two new 24-unit buildings subsidized with federal project-based housing vouchers.
- The Apartments at 249 Main Street, Nashua, developed by NeighborWorks Southern NH, 43 general occupancy units in a mixed-use building in downtown Nashua.
“Through these targeted state and federal funding sources, we are able to finance the development of multi-family housing, helping to meet the great demand and need for homes for our state’s workforce and vulnerable elderly or disabled citizens,” said Rob Dapice, newly named executive director of New Hampshire Housing.
