BEDFORD — The New Hampshire Housing Finance Authority has approved funding for 13 multifamily affordable rental housing developments, including projects in Ashland and Plymouth.
The money will produce or preserve about 600 units of general occupancy, age-restricted, and special needs housing.
The Ashland development, known as Harvey Heights-Phase I, is a project of Lakes Region Community Developers and will include the rehabilitation of two buildings dating from 1975 which have four one-bedroom units and 36 two-bedroom units. All qualify for rental assistance. The project will receive $552,835 in funding.
In Plymouth, Bridge House is expanding its existing 20-bed emergency shelter for the homeless to provide six units of permanent supportive housing, with a preference for homeless veterans. The expansion will include new construction for the six units plus congregate kitchen, dining, and common areas.
The New Hampshire Housing Finance Authority funding comes from the federal HOME program, the state Affordable Housing Fund, and the federal Housing Trust Fund, as well as the Federal Low Income Housing Tax Credit Program. About $4.6 million in federal tax credits were allocated to seven of the nine projects that applied, based on how they scored on the project evaluations.
Last year, the finance authority's multifamily development activity had a direct economic impact of $200 million through the construction and preservation of nearly 1,000 rental housing units.
“These are essential state and federal sources that enable NHHFA to provide funding to public and private developers to build and preserve affordable rental housing in the state for our workforce and other residents. Developing housing boosts the state’s economic development and increases jobs,” said Dean Christon, executive director of New Hampshire Housing.