People and Property: Real Estate and Construction News From Around NH
Triple Construction picked to build homeless shelter, CATCH appoints board members … and more
Triple Construction fits up temporary shelter
Hudson contractor Triple Construction was recently selected to build a temporary shelter unsheltered people at 39 Beech St, in Manchester. 39 Beech Street LLC is leasing 4,000 square feet of its 26,716-square-foot building to the city of Manchester from February through April 2023. The building, constructed in 1900, is the former home of E&R Cleaners and is located directly across from an FW Webb facility.
The Triple Construction team sprang retrofitted the facility, with work including light gauge framing for two bathrooms and two showers, painting, grinding down the floor into a smooth concrete finish, heat installations, HVAC, office spaces, a street-facing entrance and an entry for disabled individuals. The modifications turned the existing building into a facility with an approximate 40-person capacity.
CATCH Neighborhood Housing appoints new board members
CATCH Neighborhood Housing, Concord, has announced the addition of two new members to its board of directors: Tim Wade, New Hampshire regional president and executive vice president of M&T Bank; and Safiya Wazir, a case manager for Ascentria and Church World Service who previously served as a state representative from Concord.
CATCH President and CEO Tom Furtado said Wade and Wazir each bring expertise and experiences that will be very valuable to CATCH’s leadership.”
FHA extends pandemic era mortgage relief
Some 5,400 New Hampshire households with Federal Housing Administration mortgages have been able to remain in their homes during the pandemic, according to the U.S. Department of Housing.
Nationally, from March 2020 through December 2022, 2 million FHA borrowers struggling to make mortgage payments due to the pandemic received either Covid-19 forbearance or a more permanent solution, such as a loan modification.
Citing their effectiveness, HUD said the FHA pandemic-related programs have been extended for at least the next 18 months.
Included in the enhancements is a new initiative to increase the limit on the amount of interest-free arrearages that borrowers can pay at the end of their mortgage term to help maximize the number of borrowers able to retain their homes despite higher interest rates. The mandatory effective date of the changes is April 30, 2023, but mortgage servicers may begin offering these options to borrowers immediately, the FHA said.
$17m water, wastewater infrastructure projects
The NH Department of Environmental Services is distributing another $17 million – a combination of grant and loan funds – to 10 New Hampshire communities to support drinking water and wastewater system improvements. The funding comes through the American Rescue Plan Act of 2021, the Drinking Water and Groundwater Trust Fund and the Clean Water State Revolving Fund. In total, so far NHDES has distributed over $166 million in ARPA grant funding t0o more than 310 projects, the agency said.
Receiving loans and grants were projects in Exeter, Gilford, Lancaster New Castle, Newmarket, Portsmouth, Raymond, Somersworth, Waterville Valley and Winchester.
Torrington Properties buys Manchester site for $1.65m
Mike Reed of Stebbins Commercial Properties represented the city of Manchester and the Manchester Diocese in the $1.65 million sale of a development site on Wellington Hill in Manchester, to Torrington Properties, a developer of housing projects in New Hampshire and elsewhere. Reed assisted Torrington in the transaction as well.
Bethlehem inn put on market
The Adair Country Inn and Restaurant in Bethlehem, which for most of the last decade has been owned by Joel and Cathy Bedor, is being listed for sale. Badger Peabody Smith is the listing agent. The Bedors are planning their retirement, according to a press release.
The historic inn was built as a residence in 1927, but over the last 30 years it has been an and restaurant. The 150-acre property features scenic grounds with views of Mt. Washington and the surrounding White Mountains.
The Bedor family previously played a key role in the
revitalization of the Mt. Washington Hotel & Resort in Bretton Woods, and also previously owned the Mt. Washington Cog Railway.
Lakes Region Community Developers adds board members
Lakes Region Community Developers, Laconia, has appointed two new members to its board of directors: Reuben Bassett, a commercial agent with The Legacy Group/Keller Williams, and John Libby, a certified public accountant.
Visions for Creative Housing Solutions to launch capital campaign
Visions for Creative Housing Solutions will kick off the public phase of its capital campaign to fund construction of a third location at 11 Park Street in Hanover on March 1. The energy-efficient, fully accessible residence will provide permanent, secure, supported housing to 12 Upper Valley adults with developmental disabilities and similar disabling conditions, the organization said. To-date, the organization has raised over $3.1 million, 70 percent of the way toward its $4.2 million goal.
Visions, a nonprofit, provides housing to individuals with developmental disabilities and other disabling conditions. Since its founding in 2014, it has built projects in Enfield and Lebanon.
Ledyard National Bank offers homebuyer assistance
Hanover-based Ledyard National Bank has been selected to participate in the Federal Home Loan Bank of Boston’s Equity Builder Program, which assists homebuyers with down payment and closing costs as well as homebuyer counseling and rehabilitation assistance.
The program provides grants to financial institutions to assist households at or below 80 percent of the area median income. Borrowers are eligible to receive up to $29,000 in assistance on a first-come, first-serve basis. Buyers must also complete a home buyer counseling program.