In 2003, Great Bridge Properties collaborated with Families in Transition, a non-profit agency that provides housing and services to women and children at risk of becoming homeless, to develop much needed transitional and permanent housing to residents of Concord, NH. Some of the units were set aside for applicants who were homeless and had disabilities. Using Low Income Housing Tax Credits as the main funding source, we financed the property with a long list of private and public sources some of which had never been used in conjunction with tax credits before.
This challenging development is located in the heart of downtown Concord's Bicentennial Square. Converting two separate historic office buildings into 16 apartments and 1500 square feet of supportive service and commercial space, we helped rehabilitate the downtown area of the City. The City's goal of bringing residents back downtown and physically improving these high profile structures was realized. The resulting development are two beautifully restored historic structures which provide women, children and families with much needed housing in downtown Concord.
Since the building's opening in 2003, it has stayed fully occupied and been recognized locally as being a vast improvement to Bicentennial Square.
|Location||Bicentennial Square, Concord, NH|
|Units||16 garden style units|
|Contractor||North Branch Construction|
|Architect||Burnell Johnson Architect|
|Investor||Northern New England Housing Investment Fund|
|Manager||Families in Transition|
|Funding||NHHFA Loans, LIHTC, HOME, CDFA tax Credits, CDBG, HUD McKinney Funds, Foundation Grants|
|Total Development Costs||$2,800,000|
|Open Date||February 2004|