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BLVD Embarks on Redevelopment of New Hampshire Affordable Housing
The BLVD Group, a developer and owner of affordable housing, announced the $97-million acquisition and planned renovation of Concord Royal Gardens, a 300-unit affordable housing community in Concord, NH. In collaboration with New Hampshire Housing, the U.S. Department of Housing and Urban Development, Boston Financial and Citizens Bank, BLVD is revitalizing the property. Reportedly the project is the largest single bond-financed housing transaction in the state’s history.
Originally built in 1970, Concord Royal Gardens is one of the city’s largest affordable housing communities and will undergo an extensive redevelopment. The planned improvements will revitalize the community and preserve the property’s affordability for the next 30 years.
“This marks a significant step towards our goal of providing high-quality and sustainable affordable housing in Concord and an investment in the people who call this community home,” said Rob Budman, managing principal at BLVD. “This project not only extends affordability, but also adds desperately needed new units to the affordable housing supply.”
- ◦Development
- ◦Financing
