Land Trust to cut ribbon on new Pinecrest Apartments in Meredith on Friday

Laconia Area Community Land Trust will be holding a ribbon cutting ceremony and property tours on Friday, October 9 at their latest development projects, Pinecrest Apartments and Frances Court Manufactured Housing Park, located off Boynton Road in Meredith. A short ceremony will be held at noon, followed by a light lunch and property tours. The public is invited to attend. Anyone who wishes to do so should call The Land Trust at 524-0747 to RSVP.

The development of Pinecrest Apartments and Frances Court is another success in the Land Trust’s work to create permanently affordable housing for working families, improve streetscapes, and revitalize neighborhoods. The project was completed in three phases.

Phase 1 was the road work. Sewer and water were brought down Boynton Road, sidewalks were installed, and the road was paved. Phase 2 involved the relocation and upgrade of the manufactured housing park (formerly known as Crestview) to make room for Phase 3 the new construction of Pinecrest Apartments.

Pinecrest is LEED certified and incorporates many green building features and energy efficiencies. Its 32 permanently affordable apartments range in size from 1-3 bedrooms. Most rents will be based on 30-percent of the household’s annual adjusted gross income. Income restrictions apply. Frances Court is a 13-unit park offering a mix of rental and homeownership units. Residents of Land Trust properties who desire support services are provided with a full range of support, training, and referrals from the Land Trust’s full-time Resident Services Coordinator.

The Land Trust competed statewide with for-profit and not-for-profit developers for funding. Funding for this $8 million dollar, 3-phase project came from a dozen difference sources.

According to Nancy McCurry, the Land Trust’s deputy director, the organization targeted marketing of these units to families already living or working in Meredith.

“Over 800 brochures were distributed by Meredith employers to their employees prior to any other advertising”, said McCurry.

Applications are being accepted for October 1 and December 1 occupancy at Pinecrest. Applications are available from the Land Trust’s property management company, the Hodges Companies of Concord (1-800-742-4686 – ask for Julie).

“The development of Pinecrest created jobs for 132 local construction workers in these difficult economic times”, said McCurry.

The addition of the Meredith units brings the Land Trust’s inventory to 135 permanently affordable apartments in 42 buildings, two permanently affordable homeownership homes, and a 13 unit manufactured housing park. The Land Trust pays real estate taxes on all its properties.

The Land Trust is supported in part by membership donations and by the Lakes Region United Way. For more information about the Land Trust or to make a tax-deductible donation, visit www.laclt.org, or call the Land Trust at 524-0747.