New Hampshire Regional Community Development Corporation
Purpose
New Hampshire Regional Community Development Corporation is an IRS 501(c)(3) not-for-profit corporation whose purpose is to develop and preserve housing and supportive service programs for low income families and the elderly. The five member Board of Directors are appointed for five year terms by the Executive Director of the Laconia Housing and Redevelopment Authority.
New Hampshire Regional Community Development Corporation (NHRDC) is a part of the general partner at LHRA-Union Avenue, Limited Partnership and at Tavern Inn Housing Limited Partnership. NHRCDC is also a member of the Sunrise House LLC. All three projects were developed by Laconia Housing and Redevelopment Authority. NHRCDC is also the general partner of Derry Affordable Housing LP, the owner of the 28 unit Section 8 elderly Pillsbury Square Apartments in Derry, NH.
NHRCDC contracts with Laconia Housing and Redevelopment Authority for financial and other management services.
Board Members
Alvin Nix, Chairperson
Kelly Bokhan, Treasurer
Joanne Gagnon, Vice-Chairperson
Richard Weaver, Member
Shelley Carita, Secretary
Executive Director
Catherine. R. T. Bowler
cbowler@laconiahousing.org
Telephone: 603-737-2231
NHRCDC Partnerships
Normandin Square Apartments
NSQ Housing LLC is the owner of the Normandin Square Apartments, a 60 Unit mixed income property in Laconia.
Owner: LHRA-Union Avenue, Limited Partnership 100%
General Partner: 266 Union Avenue Corporation .01%
LHRA: 49 shares of 266 Union Avenue Corporation
NHRCDC: 51 shares of 266 Union Avenue Corporation
Limited Partner: NSQ Housing LLC 99.99%
NSQ Housing LLC has one member – Laconia Housing and Redevelopment Authority.
Although LHRA controls 99.99% (LP share) plus 49% of .01% (GP share), control of the limited partnership still rests with the general partner, 266 Union Avenue Corporation.
266 Union Avenue Housing Corporation ownership structure is 51 shares with New Hampshire Regional Community Development Corporation and 49 shares with Laconia Housing and Redevelopment Authority.
Bottom line is that NHRCDC owns a fractional share of the GP which in turn owns a fractional share of the limited partnership.
Tavern Inn Apartments
Tavern Inn Housing Limited Partnership (50 Units Apartment building for seniors and disabled in Laconia NH )
The 1% general partner consists of New Hampshire Regional Community Development Corporation (51%) and Laconia Housing and Redevelopment Authority (49%). The 99% limited partner is Laconia Housing and Redevelopment Authority.
Sunrise House Community Living
Sunrise House offers individuals with disabilities who are 62 and older to enjoy an independent lifestyle while also accessing amenities such as housekeeping, laundry services, transportation, dining, and LNA care.
Sunrise House also provides for a mixed-income environment. Twelve units will be rented to low-income seniors whose rent will be 30 percent of their income. Supportive services will be covered by Medicaid’s Choices for Independence (CFI). Rent includes heat, air conditioning, electricity, and hot water.
Four of the units are available at market rates to applicants who are 62 years or older who require support services. The market units start at $1,350 per month ($1,650 for a two-bedroom) and include laundry and housekeeping. Of the 16 units, 14 are one-bedroom apartments of approximately 400 square feet and two are two-bedroom, two-bathroom apartments of approximately 800 square feet.
13 Summer Street
New Hampshire Regional Development Corporation and Laconia Housing and Redevelopment Authority are each 51%/49% members of the limited liability corporation. 6 soon to be 7 unit affordable housing unit development. Financing provided by MVSB.
Voucher holders using the Housing Choice Voice program will rent the property. The property will be managed by Laconia Housing thru a management agreement and 13 Summer Street LLC.
FHLB Grant funding has been awarded for the renovation (exterior ) (200K)
395 South Main Street
New Hampshire Regional Development Corporation and Laconia Housing Redevelopment Authority are each 51%/49% members of the limited liability corporation. Soon to be 4 unit affordable housing unit development currently office units. FHLB Grant funding applied for 2022 has been approved for future renovation (interior).
Voucher holders using the Housing Choice Voice program will rent the property. The property will be managed by Laconia Housing thru a management agreement and 395 South Main Street LLC.
Perley Pond II
New Hampshire Regional Development Corporation and Laconia Housing Redevelopment Authority are each 51%/49% members of the Blueberry Lane BPH II limited liability corporation. Soon to be 12 Unit affordable housing unit development.
INVEST NH GAP funding provided 5YR forgivable loan along with MVSB financing. Housing choice voucher program subsidy along with a Ground lease provided by Laconia Housing BlueBerry Lane LLC Development.
Planned completion date October 2023 - Builders Bonnett Page Stone - Architect - Misciazek Turpin.
NHRCDC is also the general partner of Derry Affordable Housing LP, the owner of the 28 unit Section 8 elderly Pillsbury Square Apartments in Derry, NH. Working with Stewart Property Mgmt.
Pillsbury Apartments (Derry, NH)
Convenient living in the center of Derry. Walk to nearby amenities and enjoy easy access to I-93. Private parking onsite in the rear of the building. Laundry facilities and a community room are onsite. All utilities are included in your monthly rent. Rent is based on 30% of monthly income. Current estimated wait time. Studio units – 2-3 years. 1 BR units – 2-3 years. Applicants must be at least 62 years of age or physically disabled, regardless of age to qualify. Income limits do apply
Frances Warde House (Manchester, NH)
NHRCDC is the majority member in FW Senior Housing LLC (a two member LLC) for this 26 unit elderly housing complex that was originally the convent where Frances Warde resided when she came from Ireland to found the Sisters of Mercy in the United States.
Located near downtown Manchester. Within walking distance to many attractions. Community Room and laundry room located on premises. Supportive services available. Ample parking available. Rent is based on 30% of monthly income. Must be at least 62 years of age to qualify. Income limits do apply.
