NeighborWorks® Southern New Hampshire celebrated the completion of Hidden Pond Apartments on Friday, October 11, 2013 at 10:30 a.m. at 104 Amherst Street in Amherst. Hidden Pond Apartments is a $6.7 million development project that has resulted in the creation of 28 new affordable two bedroom rental apartments in Amherst. The ribbon cutting took place in front of the new development.
The Hidden Pond Apartments is the first affordable housing development NeighborWorks® Southern New Hampshire has completed in the Nashua region since its name change to reflect its new, regional focus. The latest development helps to answer a need for affordable rental housing in Amherst, a town where the rental housing stock is primarily comprised of single-family homes.
“The Hidden Pond Apartments will provide needed affordable rental options in the Town of Amherst,” stated Robert Tourigny, Executive Director of NeighborWorks® Southern New Hampshire. “We are very pleased that all of the necessary elements came together to make these attractive, affordable townhome-style apartments possible. We continue to seek ways to help towns in the Southern New Hampshire region create affordable housing options for working residents,” continued Tourigny.
Residents of The Hidden Pond Apartments will have income that is at or below 60% of total area median income for individuals, and at or below 50% for families. The rents for these new apartments will range from $925 - $975. The financial partners for this development were Raymond James, Merrimack County Savings Bank, The Federal Home Loan Bank of Boston, the Town of Amherst Community Development Block Grant, New Hampshire Community Development Finance Authority, The Norwin S. and Elizabeth N. Bean Foundation, and New Hampshire Housing. Project architect is BMA Architectural Group and construction was provided by Gary Chicoine Construction Corporation.
NeighborWorks® Southern New Hampshire is a non-profit organization whose mission is to provide affordable housing in the Southern New Hampshire region. For more information visit www.nwsnh.org or call 603.626.4663.
The ribbon cutting celebration for Hidden Pond Apartments was sponsored by Merrimack County Savings Bank