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Affordable Housing Program – Initiatives Approved
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Connecticut

Location: Bridgeport
Member: People's United Bank, National Association
Sponsor: Bridgeport Neighborhood Trust, Inc.
AHP Units: 13 rental units
Subsidy: $573,748 grant and subsidy, $600,000 advance

273-301 West Avenue

Acquisition of five vacant, contiguous parcels that will be consolidated into a single parcel to create 13 affordable rental units for low-income and homeless households, plus five market-rate units. Resident support services will include a self-sufficiency program, mental health and substance abuse programs, and assistance with daily living activities. This transit-oriented initiative will incorporate a number of energy-efficient and sustainable development elements. People's United Bank, National Association will provide construction financing and a long-term permanent loan using an AHP Subsidized Advance, with additional funding through a developer's fee, City of Bridgeport, and Connecticut Department of Housing Trust Fund.


Location: Meriden
Member: Webster Bank, N.A.
Sponsors: Michaels Development Company and Better Tomorrows
AHP Units: 57 rental units
Subsidy: $1,451,767 grant and subsidy, $4,000,606 advance

11 Crown Street

Creation of 81 mixed-income units on 1.6 acres which will target low-, very low-, and extremely low-income households. A portion of the units will be reserved for market-rate residents, and other AHP units will be set aside for formerly homeless individuals and families. The initiative is the first of several planned Transit Oriented Developments near the new high speed rail which will be opening in 2017. All residents will benefit from self-sufficiency and healthcare services. In addition to the AHP Direct Subsidy, Webster Bank, N.A. will provide construction financing and an AHP Subsidized Advance. Other funding sources include Low Income Housing Tax Credits and soft debt through the Connecticut Department of Housing.


Location: Meriden
Member: Massachusetts Housing Investment Corporation
Sponsors: Pennrose Properties LLC, Maynard Road Corporation, and Housing Authority of the City of Meriden
AHP Units: 60 rental units
Subsidy: $1,499,962 grant and subsidy, $2,391,000 advance

Meriden Commons I

New construction to create 75 rental units for market-rate, low-, and very low-income households. This preservation effort helps to create a revitalized and economically diverse neighborhood. The residents will benefit from workforce readiness and self-sufficiency services, such as GED, ESL, fraud avoidance training and financial planning. Sustainable building practices will be incorporated into the design. Massachusetts Housing Investment Corporation will provide permanent financing through an AHP Subsidized Advance, as well as a permanent loan. Other funding is provided by Low Income Housing Tax Credits, Connecticut Department of Housing, and a deferred developer fee.


Location: Sterling
Member: Putnam Bank
Sponsor: Habitat for Humanity of Eastern Connecticut, Inc.
AHP Units: One homeownership unit
Subsidy: $23,000 grant

511 Sterling Road

Rehabilitation of a single-family house to create a homeownership opportunity for a low-income first-time homebuyer. The single-family house, located on a one-acre lot, was donated to the sponsor by Wells Fargo after foreclosure. Rehabilitation includes energy efficiency measures and sustainable design features. Habitat for Humanity of Eastern Connecticut will require the homeowner to provide over 400 hours of sweat equity, with residents benefitting from comprehensive homeownership counseling and financial planning, with additional daycare service and welfare-to-work programming. Putnam Bank will provide a construction line of credit, with federally funded end mortgage financing.


Location: Tolland
Member: Putnam Bank
Sponsor: Access Agency
AHP Units: 37 rental units
Subsidy: $1,270,635 grant and subsidy, $1,850,000 advance

Parker School Elderly Housing

Renovation of an existing elementary school to create 37 rental apartments targeting low- and very low-income seniors and homeless veterans. The location is within walking distance to the town center and convenient to the nearby Tolland Senior Center, allowing residents to easily access a wide range of services. The initiative will utilize sustainable development building and energy-efficient building operations. Economic empowerment services will include fraud avoidance and financial planning as well as a resident council and leadership training opportunities. Putnam Bank will provide a permanent loan utilizing an AHP Subsidized Advance. Other sources of funding will include Connecticut Department of Housing funds, Low Income Housing Tax Credits and sponsor equity.


Location: Uncasville
Member: Liberty Bank
Sponsor: Habitat for Humanity of Eastern Connecticut, Inc.
AHP Units: One homeownership unit
Subsidy: $25,000 grant

7 Killeen Road

Construction of a single-family Habitat for Humanity home in the Uncasville section of rural Montville, Connecticut on a foreclosed property donated by Liberty Bank. The first-time homebuyer will benefit from economically empowering homeownership readiness services including financial planning and credit counseling in addition to other support services including daycare and job training, with residents providing sweat equity. Liberty Bank will provide construction financing through a line of credit. Habitat for Humanity of Eastern Connecticut will provide a zero-percent mortgage to the homebuyer.


Location: Uncasville
Member: Dime Bank
Sponsor: Habitat for Humanity of Eastern Connecticut, Inc.
AHP Units: One homeownership unit
Subsidy: $25,000 grant

681 Raymond Hill Road

Rehabilitation of a donated home to create a renovated single-family home for a low-income family. This development helps address the need for affordable housing in this neighborhood. First-time homebuyer will receive homeownership counseling, financial planning, daycare services and welfare-to-work programs, to promote successful homeownership, economic empowerment, and paths to self-sufficiency. Sustainable building practices and many energy-efficient features will be incorporated into the design. Dime Bank will provide a construction line of credit and Habitat for Humanity of Eastern Connecticut, Inc. will provide the remaining funding needed.


Location: Willimantic
Member: Housing Authority Risk Retention Group, Inc.
Sponsors: Willimantic Housing Corporation and Willimantic Housing Authority
AHP Units: 33 rental units
Subsidy: $750,000 grant

Jonathan Trumbull Terrace

Construction of 42 units of mixed-income housing that will target 33 units for households at or below 30, 50, and 60 percent of the Area Median Income. The residents will benefit from economically empowering services such as workforce readiness and healthcare. The Willimantic Housing Authority will purchase the new insurance guaranty product from Housing Authority Risk Retention Group Inc. The balance of the funding will be from Low Income Housing Tax Credits along with state and local funding.

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Maine

Location: Bar Harbor
Member: Camden National Bank
Sponsor: Community Housing of Maine, Inc.
AHP Units: Six rental units
Subsidy: $750,000 grant

Parish House Apartments

Acquisition and adaptive reuse of the historic St. Savior's Episcopal Church parish house to create six rental apartments for low-income adults with intellectual and developmental disabilities. This substantial rehabilitation will integrate lower income residents into a higher income census tract, helping to create an economically diverse neighborhood. Residents will benefit from employment training and job placement, as well as extensive individualized service plans which will foster workforce readiness and self-sufficiency. Camden National Bank will provide a construction loan and a bridge loan. Other permanent funding is comprised of grants and state and federal historic tax credits.


Location: Berwick
Member: Eastern Bank
Sponsor: The Housing Partnership
AHP Units: 24 rental units
Subsidy: $497,478 grant and subsidy, $597,195 advance

Berwick Senior Housing

Acquisition, new construction, and rehabilitation of the existing Eastbrook School to create 24 rental apartments for elderly households with incomes at or below 50 and 60 percent of the Area Median Income. Residents will benefit from financial planning, budgeting, and fraud avoidance services along with mental health services and substance abuse counseling. Eastern Bank will provide a permanent loan through the AHP Subsidized Advance with others funding from Low Income Housing Tax Credits and state funding.


Location: Indian Island
Member: Bangor Savings Bank
Sponsor: Penobscot Indian Nation
AHP Units: 24 rental units
Subsidy: $750,000 grant

Penobscot Elder Homes

Financing will support the construction of 24 affordable rental units for elderly residents. The site is designed to promote long-term sustainability and will include energy-efficient features. Residents will benefit from support services ranging from self-sufficiency and healthcare services, including substance abuse and mental health programs, as well as an on-site nurse. Bangor Savings Bank will provide a construction loan with other financing through Low Income Housing Tax Credits.


Location: Limerick
Member: Gorham Savings Bank
Sponsors: Avesta Housing Development Corporation and Hill Street Terrace Housing Corporation
AHP Units: 12 Rental units
Subsidy: $425,280 grant

Mary Ann Manor Apartments

Refinance and rehabilitation of an existing to preserve 12 units of elderly and disabled rental housing supported by a HUD Section 8 contract. Residents will benefit from comprehensive self-sufficiency and healthcare supportive services, including fraud avoidance and financial planning workshops, on-site flu shots, blood pressure clinics, as well as healthy living and nutrition classes. Gorham Savings Bank will provide construction and permanent financing in addition to the AHP Direct Subsidy. The Genesis Loan Fund will provide the remaining debt financing.


Location: Old Orchard Beach
Member: Camden National Bank
Sponsor: Pinewood Manor, Inc.
AHP Units: 50 Rental units
Subsidy: $750,000 grant

Pinewood Manor, Inc.

Rehabilitation will preserve 50 one-bedroom units of affordable rental housing for elderly residents with incomes at or below 50 and 60 percent of the Area Median Income. The initiative will maximize energy efficiency and promote long-term sustainability. Residents will benefit from self-sufficiency and healthcare services including on-site primary healthcare services and on-site medication management. Camden National Bank will provide permanent and construction financing.


Location: Portland
Member: Bangor Savings Bank
Sponsors: Portland Housing Authority and Portland Housing Development Corporation
AHP Units: 44 Rental units
Subsidy: $975,173 grant and subsidy, $2,932,139 advance

58 Boyd Street Apartments 2016

Construction of a mixed-use, mixed-income development to include 44 affordable rental apartments, 11 market-rate apartments, and ground floor commercial space for a local social service organization. The development will maximize energy efficiency and promote long-term sustainability. All residents will benefit from workforce readiness and self-sufficiency services including daycare, ESL, and employment training. Bangor Savings Bank will provide construction financing and permanent financing through the AHP Subsidized Advance with additional financing comprising of Low Income Housing Tax Credits, federal and local HOME funds, and sponsor equity.


Location: Presque Isle
Member: Bangor Savings Bank
Sponsor: Aroostook Band of Micmacs
AHP Units: 14 Rental units
Subsidy: $750,000 grant

Micmac Rehab II

Rehabilitation of 14 single-family rental homes on the Aroostook Band of the Micmacs' trust land, located adjacent to the Northern Maine Community College and the Band?s tribal administration offices, which once served as military housing on the Loring Air Force Base. Twelve of the 14 homes are currently occupied by families with incomes at or below 60 percent of the Area Median Income, with other two homes to accommodate the relocation of existing tenants during the rehabilitation process. The residents will benefit from workforce readiness services, including GED, ESL, and employment training, and healthcare services, including on-site primary care and substance abuse programs. Bangor Savings Bank will provide a construction loan. Aroostook Band of Micmacs will provide the remaining funding.


Location: Scarborough
Member: Bangor Savings Bank
Sponsor: Avesta Housing Development Corporation
AHP Units: 38 Rental units
Subsidy: $1,421,392 grant and subsidy, $2,550,000 advance

Southgate House

Acquisition, rehabilitation and construction to create 38 rental apartments for very low- and low-income households. The existing historic structures and the new construction building will include many efficient building operations and sustainable development features. The residents will benefit from homeownership readiness and healthcare services, including on-site health care and access to healthy foods and recipes through an innovative cooking program. Bangor Savings Bank will provide construction financing and permanent financing through the AHP Subsidized Advance. Other funding sources include Low Income Housing Tax Credits and historic tax credits.


Location: South Paris
Member: Norway Savings Bank
Sponsor: Avesta Housing Development Corporation
AHP Units: 12 Rental units
Subsidy: $750,000 grant

Fox School

Acquisition and rehabilitation of an existing property to create 12 rental apartments for very low- and low-income seniors through an adaptive reuse of a historic building. This two-story building will include a resident common area and a telemedicine room in addition to American Disability Act-compliant one-bedroom units. Residents will benefit from fraud avoidance training, financial planning, on-site health care, and coursework integrating cooking and nutrition. The substantial rehabilitation involves many energy-saving features. Norway Savings Bank will provide bridge financing and will invest in the Historic Tax Credits. Other permanent funding is provided by Maine Housing and sponsor equity.


Location: Waterville
Member: Camden National Bank
Sponsor: WHA, Inc.
AHP Units: 28 Rental units
Subsidy: $750,000 grant

Merici Woods

Construction of 28 one- and two-bedroom affordable rental units for seniors in the former Ursuline Convent building in a high-income and rural census tract. The residents will benefit from an on-site tenant coordinator, offering self-sufficiency services such as cybersecurity and fraud avoidance training as well as resident leadership. The property will include many sustainable development items and energy-efficient features. Camden National Bank will provide construction financing and invest in the Low Income Housing Tax Credits. Other funding sources include historic tax credits and Federal Low Income Housing Tax Credits.


Location: Waterville
Member: Bangor Savings Bank
Sponsors: DBH Management Inc. and Roman Catholic Bishop of Portland
AHP Units: 18 Rental units
Subsidy: $298,257 grant and subsidy, $299,739 advance

St. Francis Apartments Phase 2

Construction of 18 one-bedroom senior housing rental units, and the second phase of a 58-unit total development. The location is the site of a former church, parish hall and rectory that was razed in 2014. During the completion of phase one, the sponsor incorporated as many historic elements as possible; which included the 1872 church bell, stain glass windows and a gold statue of St. Francis. The initiative will target incomes at or below 50 and 60 percent of Area Median Income and the residents will benefit from empowerment services that include self-sufficiency, healthcare, and access to a telemedicine room. Bangor Savings Bank will provide permanent funding through the AHP Subsidized Advance and the initiative will benefit from the receipt of Low-Income Housing Tax Credits through the Northern New England Housing Investment Fund.


Location: Westbrook
Member: Gorham Savings Bank
Sponsor: Westbrook Development Corporation
AHP Units: 83 Rental units
Subsidy: $1,090,761 grant and subsidy, $1,285,923 advance

Riverview Terrace

Rehabilitation and Rental Assistance Demonstration conversion of two existing, occupied public housing facilities with a total of 83 apartment homes for very low- and low-income elderly households. The first such conversion in Maine, this program permits the conversion of ownership of these properties from federal/public housing to private ownership with equity investment by Low Income Housing Tax Credits, plus project-based rental assistance, in order to substantially rehabilitate the housing stock. Residents will receive financial planning, fraud avoidance training, and on-site primary health care services and an on-call emergency response system. Gorham Savings Bank will provide construction and permanent funding through the AHP Subsidized Advance. Other funding includes Low Income Housing Tax Credit equity as well as state HOME funds, project reserves, MaineHousing, and a deferred developer fee.


Location: Yarmouth
Member: Bath Savings Institution
Sponsor: Yarmouth Senior Housing
AHP Units: 28 rental units
Subsidy: $720,000 grant

Bartlett Circle Renovation 2.0

Preservation and completion of final phase of rehabilitation of 28 units of affordable housing for seniors, featuring one-level, ranch-style units that target seniors below 60 percent of Area Median Income. The project includes unit upgrades, new roofs, and boilers as well as energy-efficiency and accessibility improvements. Upon completion of this project, Yarmouth Senior Housing will provide support services including paths to empower the residents through self-sufficiency and healthcare. Bath Savings Institution will provide permanent financing with additional funding from the Town of Yarmouth's Affordable Housing Fund and Dougherty Trust fund.

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Massachusetts

Location: Brewster
Member: Cape Cod Five Cents Savings Bank
Sponsor: Habitat for Humanity of Cape Cod, Inc.
AHP Units: 6 homeownership units
Subsidy: $172,587 grant

Brewster Tubman Road Community Housing

Construction of six homes for first-time homebuyers on 14 acres of land comprise the first phase of a planned 14-unit subdivision. The homes will be targeted to homebuyers with incomes below 80 percent of Area Median Income. Homebuyers will receive homeownership preparedness and leadership skills. Each partner family will devote more than 250 hours of sweat equity prior to taking ownership of their home and be trained to participate and lead the homeowners' association. Cape Cod Five Cents Savings Bank will provide a construction loan, with federally funded end loans awarded to the homebuyers.


Location: Brockton
Member: HarborOne Bank
Sponsors: Father Bill's & MainSpring
AHP Units: 23 rental units
Subsidy: $397,054 grant and subsidy, $1,220,000 advance

Montello Welcome Home II

Construction of 23 affordable rental units for homeless residents, following the completion of the first phase construction of 22 affordable rental units. The initiative promotes long-term sustainability and features energy-efficient appliances and lighting. Residents will benefit from workforce readiness and self-sufficiency services including employment training and job placement. HarborOne Bank will provide permanent financing. Other financing includes funds from MassHousing CCRI, Massachusetts Department of Housing and Community Development Trust, and City of Brockton.


Location: Devens
Member: Enterprise Bank and Trust Company
Sponsor: Women's Institute Realty, Inc
AHP Units: 58 rental units
Subsidy: $1,189,243 grant and subsidy, $2,050,000 advance

Shirley Commons

Acquisition and new construction of 120 affordable rental apartments for low- and very low-income residents on the former Fort Devens army base. This first phase will consist of 58 units of rental housing for seniors. Healthcare and self-sufficiency services will be offered to all residents including meals, housekeeping, financial planning, healthcare and health education as well as access to transportation. Additionally, 12 units will be set aside for homeless individuals, who will be provided the financial and supportive services necessary for successful transition to permanent housing. Enterprise Bank and Trust Company will provide an AHP Subsidized Advance, with permanent financing through Low Income Housing Tax Credits and Massachusetts Department of Housing and Community Development funds.


Location: Dorchester
Member: Citizens Bank, N.A
Sponsor: Hearth, Inc.
AHP Units: 52 rental units
Subsidy: $1,069,418 grant and subsidy, $1,075,000 advance

Hearth at Four Corners

New construction of 22 rental apartments for low- and very low-income seniors on property donated by the City of Boston. Units will be set aside for homeless individuals in an effort to assist the City of Boston in their initiative to end chronic homelessness. Residents will benefit from an array of support services, including meals, nursing and case management services, financial planning, substance abuse, and mental health counseling. The property will incorporate many sustainable development and energy-efficient features. Citizens Bank, N.A. is providing an AHP Subsidized Advance. Other permanent financing includes Massachusetts Department of Housing and Community Development, HOME, and City of Boston funds.


Location: Dorchester
Member: Boston Private Bank & Trust Company
Sponsor: Urban Edge
AHP Units: 28 rental units
Subsidy: $750,000 grant

Wilshire Apartments

Preservation and rehabilitation of Wilshire Apartments, a 29-unit affordable housing development. Residents will benefit from credit and homeownership counseling and gain economic self-sufficiency through financial capability and youth leadership programs. In addition to an AHP Direct Subsidy, additional sources of funding include the City of Boston's Neighborhood Housing Trust Fund and Low Income Housing Tax Credits and construction and permanent financing provided by Boston Private Bank and Trust Company.


Location: Fitchburg
Member: Avidia Bank
Sponsor: South Middlesex Opportunity Council, Inc.
AHP Units: 18 rental units
Subsidy: $290,000 grant

94 Highland Ave. Fitchburg

Acquisition and rehabilitation to create 18 units of supportive housing for very low-income and homeless individuals. Residents will be economically empowered through workforce readiness and self-sufficiency services that include employment training, job placement, conflict resolution skills, and transportation. In addition to the AHP Direct Subsidy, Avidia Bank will provide acquisition financing and a construction-to-permanent loan. Other financing includes Commonwealth of Massachusetts Department of Housing and Community Development's Affordable Housing Trust funds.


Location: Hamilton
Member: Institution for Savings in Newburyport and its Vicinity
Sponsor: Habitat for Humanity - North Shore, Inc.
AHP Units: 2 homeownership units
Subsidy: $53,078 grant

270 Asbury Street

Construction of two single-family homes on foreclosed property to create homeownership opportunities for two low-income, first-time homebuyers. These homes will help the town of Hamilton achieve its affordable housing stock goal. The homes will include energy-efficient features. The sponsor will require the homebuyers provide sweat equity and the resident families will benefit from homeownership counseling. Institution for Savings in Newburyport will offer 30-year mortgages at zero percent interest rates to both of the selected families and will also provide a construction loan. Other financing includes HOME funds and Hamilton Affordable Housing Trust funds.


Location: Leominster
Member: North Brookfield Savings Bank
Sponsor: South Middlesex Opportunity Council, Inc.
AHP Units: 19 rental units
Subsidy: $310,000 grant

226 Main St., Leominster

Acquisition and rehabilitation of a 1900-era boarding house into 19 single-room occupancy (SRO) units of supportive, transitional housing for very low-income, homeless individuals. The project is aimed at addressing the severe need for permanent housing for low-income, homeless, chronically homeless and disabled individuals in Worcester County. The rehabilitation will improve the building's energy efficiency through a variety of exterior improvements. Residents will benefit from employment training, job placement, transportation, and conflict resolution services. North Brookfield Savings Bank will provide permanent financing. Other funding includes Massachusetts Housing Innovations Funds and Affordable Housing Trust Funds.


Location: Marstons Mills
Member: Cape Cod Five Cents Savings Bank
Sponsor: Habitat for Humanity of Cape Cod, Inc.
AHP Units: 4 homeownership units
Subsidy: $115,021 grant

Barnstable River Road Community Housing

Acquisition and new construction of four single-family homes for low- and moderate-income families who are first-time homebuyers that will address the substantial need for affordable homeownership on Cape Cod. Homebuyer counseling will be available to ensure successful homeownership. All homebuyers will benefit from empowerment services, including homebuyer education and sweat equity and will participate in the homeowners' association. The construction will incorporate sustainable building practices and energy-efficient features. Cape Cod Five Cents Savings Bank will provide a construction loan and permanent loan to Habitat for Humanity of Cape Cod, Inc. and Habitat will provide permanent zero percent interest rate financing to the homebuyers.


Location: Mashpee
Member: Cape Cod Five Cents Savings Bank
Sponsor: Habitat for Humanity of Cape Cod, Inc.
AHP Units: 2 homeownership units

Subsidy: $58,849 grant

Mashpee Orchard and Quinaquisset Community Housing

Construction of two single-family homes on two separate donated parcels to create homeownership opportunities for low-income, first-time homebuyers. The new homes will have solar panels installed on their roofs, which are fully funded by Habitat for Humanity of Cape Cod, Inc. The homebuyers will be required to provide sweat equity and will benefit from homeownership counseling, financial planning, and life-goals coaching support. Habitat for Humanity of Cape Cod, Inc. will also provide 28-year interest-free mortgages to the selected families, with construction loan financing provided by Cape Cod Five Cents Savings Bank and other financing through Community Preservation Act funds and private donations.


Location: Tewksbury
Member: Lowell Five Cent Savings Bank
Sponsor: Janet's Place
AHP Units: 18 rental units
Subsidy: $312,718 grant

Janet's Place Residence - Tewksbury

Acquisition and rehabilitation to expand an existing home for women offering safe, supportive, and affordable housing for women in recovery from drugs and alcohol, and one of two initiatives in the state focusing on women. The 18 units are targeted to women with incomes at or below 50 percent of the Area Median Income. Each resident is encouraged to live independently and is invited to live in their housing units on a permanent basis. All residents will benefit from economically empowering services, including self-sufficiency. The AHP funds will be used for construction, developer fee, and other soft costs. Lowell Five Cent Savings Bank will provide acquisition financing.


Location: Truro
Member: Cape Cod Five Cents Savings Bank
Sponsor: Habitat for Humanity of Cape Cod, Inc.
AHP Units: 3 homeownership units
Subsidy: $88,169 grant

Truro 143 Route 6 Community Housing

New construction of three single-family homes for first-time home buyers, targeted to households earning at or below 60 percent of Area Median Income. Each of the homes will be priced below $150,000 based on the size and type of home (one-bedroom cape or two- or three-bedroom ranch). Residents will benefit from economically empowering services including homeownership readiness and resident leadership. The AHP funds will be used for construction, with additional construction loan funding from Cape Cod Five Cents Savings Bank.

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New Hampshire

Location: Exeter
Member: Bangor Savings Bank
Sponsor: Avesta Housing Development Corporation
AHP Units: 38 rental units
Subsidy: $1,217,342 grant and subsidy, $1,775,000 advance

Three Meeting Place

Construction of 43 energy-efficient affordable apartments, the fourth of five anticipated phases of development of the Meeting Place at Exeter apartment community. The building will include a mix of apartments affordable to 38 very low- and low-income households with others set aside for those with disabilities receiving HUD Section 811 operating assistance with others as market-rate units. Residents will receive credit counseling, financial planning budgeting, and primary healthcare services, and can access a nutrition counseling and healthy cooking program. Bangor Savings Bank will provide the construction loan and permanent financing through the AHP Subsidized Advance. Other funding will be provided by Low Income Housing Tax Credit equity.


Location: Hampton Falls
Member: Meredith Village Savings Bank
Sponsor: Avesta Housing Development Corporation
AHP Units: 22 rental units
Subsidy: $935,000 grant and subsidy, $935,000 advance

The Meadows at Grapevine Run - Phase 2

Construction of 24 one-bedroom rental units for seniors, the second phase of a three phase, 72-unit development that will enable the Town of Hampton Falls to provide more affordable housing options for its fast-growing senior population. Income targeting is at or below 50 and 60 percent of Area Median Income and the residents will benefit from empowerment services that include self-sufficiency and healthcare services. Meredith Village Savings Bank will provide permanent funding through the AHP Subsidized Advance and other loans. Other sources include New Hampshire Housing Finance Agency capital subsidy and Low Income Housing Tax Credits.


Location: Londonderry
Member: Eastern Bank
Sponsor: NeighborWorks Southern New Hampshire
AHP Units: 30 rental units
Subsidy: $600,000 grant

Townhomes at Whittemore Place, Phase II

Acquisition and construction of 33 apartments serving very low- and low-income households with three units priced at market rate. This is the second phase of development at this previously foreclosed site. Site amenities include green space, dedicated gardening spaces, and an on-site community room. NeighborWorks Southern New Hampshire will connect residents with effective homeownership readiness, financial planning, and credit counseling services. Notable sustainable development and operation features include 100 percent recycling of construction waste, storm water management, and energy-efficient features. Eastern Bank will provide construction and permanent financing. Other funding includes Low Income Housing Tax Credit equity and energy rebates.


Location: Nashua
Member: Enterprise Bank and Trust Company
Sponsor: Harbor Homes, Incorporated
AHP Units: 33 rental units
Subsidy: $1,050,152 grant and subsidy, $1,140,000 advance

Northeastern Boulevard Recovery Housing

Acquisition and construction of 55 units of special needs recovery housing for individuals with substance abuse disorders. Harbor Homes, Incorporated will purchase a large commercial facility and retrofit 20 percent of the space to create the recovery housing. Designed to best respond to the opioid crisis and the lack of treatment facilities, with a portion reserved as treatment beds/units for very low-income and homeless individuals, this integrated health care/residential facility will provide residents with primary health care, substance abuse, and mental health counseling in addition to transportation, activities of daily living, and financial planning services. State Medicaid funding will fund all housing and program expenses. Enterprise Bank and Trust Company will provide permanent financing for both the AHP-eligible and commercial spaces with a combination of the AHP Subsidized Advance and other conventional debt.


Location: West Lebanon
Member: Mascoma Savings Bank, FSB
Sponsor: Twin Pines Housing Trust
AHP Units: 28 rental units
Subsidy: $1,003,500 grant and subsidy, $974,204 advance

60 Main

Construction of a mixed-use, mixed-income development with 28 affordable rental apartments, three market-rate apartments, and ground floor commercial space. The building will be constructed to National Green Building Standard Silver status and will include many sustainable development and efficient operations features. Residents will benefit from fraud avoidance and financial planning economic empowerment services. Mascoma Bank will provide construction financing and a permanent loan funded with the AHP Subsidized Advance as well as investing in the Low Income Housing Tax Credits. Other funding includes CDBG funding and the deferred developer fee.


Rhode Island

Location: Newport
Member: Citizens Bank, N.A.
Sponsor: Housing Authority of the City of Newport
AHP Units: 38 rental units
Subsidy: $750,000 grant

Park Holm Phase III

Acquisition, new construction, and rehabilitation to preserve 38 rental units for low- and very low-income residents. This initiative is the third of multiple phases to fully redevelop the existing 262-unit family development including the comprehensive rehabilitation of 34 units currently located in severely distressed, physically obsolete buildings, the demolition of six buildings, and the new construction of four one-bedroom units in a single building. The construction will incorporate sustainable building practices and energy-efficient features. Residents will benefit from a variety empowerment services including GED, ESL, job placement, and after school/daycare services. The initiative will continue to promote Smart Growth development, offering access to transportation. Citizens Bank, N.A. will provide a construction loan and purchase Low Income Housing Tax Credits. Other permanent financing includes Rhode Island Housing permanent mortgage, HOME funds, and Housing Authority of the City of Newport funding.

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Vermont

Location: Brattleboro
Member: Passumpsic Savings Bank
Sponsor: Windham & Windsor Housing Trust
AHP Units: 20 rental units
Subsidy: $650,000 grant

Brattleboro Supportive Housing

Conversion of an extended stay motel into 22 efficiency and one-bedroom, permanent supportive housing units for very low-income residents with special needs. The initiative will involve substantial renovation of the two existing wood-frame buildings and the addition of a community center which will house office space, laundry facilities, and a shared kitchen. Windham & Windsor Housing Trust will economically empower residents through healthcare and self-sufficiency services, to include programs on tenant rights and responsibilities, mediation, and budgeting. In addition to the $650,000 AHP Direct Subsidy, Passumpsic Savings Bank will purchase the Federal Low Income Housing Tax Credits.


Location: Middlebury
Member: National Bank of Middlebury
Sponsors: Green Mountain Development Group, Incorporated; Sugarwood Associates; and Addison County Community Trust, Inc.
AHP Units: 11 rental units
Subsidy: $857,145 grant and subsidy, $564,764 advance

Sugarwood Apartments

Acquisition and rehabilitation to preserve 12 rental apartments of affordable housing for very low- and low-income residents. The rehabilitation will focus on building envelopment improvements and energy efficiency upgrades. Residents will benefit from comprehensive economic empowerment services including financial planning, budget, and credit counseling and involvement in management of the initiative through the creation of and participation in a residents' council. The National Bank of Middlebury will provide construction financing through the AHP Subsidized Advance, and invest in federal and state Low Income Housing Tax Credits. A separate loan from the sponsor to the project will provide the remaining financing.


Location: North Bennington
Member: People's United Bank, National Association
Sponsor: Shires Housing, Inc.
AHP Units: 19 rental units
Subsidy: $319,688 grant and subsidy, $270,000 advance

Lake Paran Village

Acquisition and new construction to create 22 rental apartments for low-, very low-, and market-rate income residents. This mixed-income housing will have a common, central green space, open front porches, and walkways and will incorporate many sustainable building practices and energy-efficient elements. Residents will benefit from economically empowering services such as homeownership readiness and self-sufficiency services, including homeownership education, financial planning, and eviction prevention. People's United Bank, National Association will provide a construction loan and an AHP Subsidized Advance. Other permanent financing includes Low Income Housing Tax Credits, HOME funds, and Community Development Block Grant funds.


Location: Plainfield
Member: People's United Bank, National Association
Sponsors: The Housing Foundation, Inc. (HFI) and Vermont State Housing Authority
AHP Units: 16 rental units
Subsidy: $746,723 grant and subsidy, $475,000 advance

Hollister Hill Redevelopment

Acquisition, demolition, and construction of 16 units of replacement rental housing. The proposed project will consist of two buildings with eight units each plus a community building. All of the units will be ADA-accessible and energy efficient. The three one-bedroom, ten two-bedroom, and three three-bedroom unit mix is targeted to families earning at or below 50 percent and 60 percent of Area Median Income and have rent payments supported with Section 8/HAP vouchers. The residents will benefit from economically empowering services including workforce readiness and self-sufficiency. AHP will be used for acquisition, construction, and developer fees and other soft costs. People's United Bank, National Association will provide a construction loan, the permanent AHP subsidized advance, and will be an investor in the Low Income Housing Tax Credits.


Location: Rochester
Member: Lake Sunapee Bank, FSB
Sponsor: Rochester Community Care Home, Inc.
AHP Units: 9 rental units
Subsidy: $300,000 grant

Park House Rochester

Rehabilitation of an existing occupied property to modernize and preserve 14 senior rental apartments for very low-income, low-income, and market-rate households. This project is the only community-based residence within a 30-mile radius that supports a shared housing concept designed to enable elderly residents to socialize. The sponsor provides housekeeping and daily meals to all residents. In addition, the residents benefit from self-sufficiency training and transportation services, as well as healthcare services including on-site medical services and medication oversight. Lake Sunapee Bank, FSB will provide construction financing. The project will receive state tax credits and local community grants.


Delaware

Location: Claymont
Member: Citizens Bank, N.A.
Sponsor: Gaudenzia Foundation, Inc.
AHP Units: 26 rental units
Subsidy: $720,000 grant

Gaudenzia Claymont

Acquisition and renovation of an existing building for recovering individuals and families in transition from treatment to self-sufficiency through the provision of supportive housing. The initiative will serve a total of 26 adults and up to 20 children with incomes at or below 50 percent of Area Median Income. The site will be adapted to provide residential treatment services for participants in two programs, including those recovering from substance abuse and co-occurring mental health disorders and female heads of household recovering from substance abuse and receiving services while living with their children. Residents will benefit from comprehensive on-site supportive services, including case management, counseling, adult education, employment/vocational services, and daycare for resident children. The ultimate goal for all residents is to maximize self-sufficiency and graduate to permanent housing. Citizens Bank, N.A. will provide a permanent loan.

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