The groundbreaking ceremony for Londonderry’s new Sanborn Crossing Apartments, a new 102-unit, age-restricted apartment complex, was held December 7th at 30 Sanborn Road. Each of the two 4-story buildings will have 51 units, with a total of 62 one-bedroom, and 40 two-bedroom units. The units will be affordable to senior households under 60% of the area median income. Sanborn Crossing utilizes green building technology and low-impact development methods, as well as cutting-edge stormwater management. Landscaping will include native plants, a walking trail system, rain gardens, and bio-retention basins for groundwater recharging. Financing for the project is through New Hampshire Housing Finance Authority, using tax-exempt bonds to provide primary loan financing, the Low Income Housing Tax Credit (LIHTC) program, and a development subsidy through the federal HOME Program. The LIHTC program leverages private investment capital directed at affordable rental housing.
Photo, from left to right: HUD Regional Administrator David Tille; Londonderry Town Manager Kevin Smith; State Rep. Al Baldasaro; Sanborn Crossing developers Timothy Kleiner and Steve Lewis; Governor Chris Sununu; Londonderry Senior Affairs Director Cathy Blash; State Senator Sharon Carson; State Senator Bob Giuda; New Hampshire Housing Finance Authority Executive Director Dean Christon. Photo credit: Justin Cross
High resolution image available here.
About New Hampshire Housing: As a self-supporting public corporation, New Hampshire Housing Finance Authority promotes, finances and supports affordable housing. NHHFA operates a number of rental and homeownership programs designed to assist low- and moderate-income persons with obtaining affordable housing. Since its inception, NHHFA has helped more than 45,000 families purchase their own homes and has been instrumental in financing the creation of almost 15,000 multi-family housing units.