When Twin Pines Housing experienced cost overruns late in the renovations of the building at 10 Parkhurst Street, the Upper Valley community stepped in to help. Several generous donors, including The Jack and Dorothy Byrne Foundation, and Peter and Jane McLaughlin, stepped in to cover the majority of the increased expense, but there was still work to be done. That’s when COVER Home Repair offered to organize groups to paint the living spaces for residents. Over the course of three days, over 40 volunteers, including folks from the Cover community, Mascoma Bank, Hypertherm, Geokon, Lyme Computer Systems, Kinney Pike Insurance, and Twin Pines Housing will help give the walls a fresh coat of paint. Lebanon Paint & Decorating, owned by Shawn Hickey and Tom Evans, provided significant support for the project.
The New Hampshire Community Development Finance Authority (CDFA) announced on June 19th that it has awarded $4 million in tax credits to nonprofits throughout New Hampshire. The funds will have a significant impact on initiatives that advance local community economic development goals, capacity building for the New Hampshire nonprofit ecosystem and technical assistance to support economic development across the state.
Projects receiving tax credits are addressing critical needs in the Granite State, from providing increased access to quality, affordable childcare to downtown revitalization and developing affordable, workforce housing.
“Our tax credit awardees have demonstrated a strong commitment to delivering programs and services vital to New Hampshire communities that further enhance economic development, downtown revitalization, as well as affordable housing and childcare, and more,” commented Katy Easterly Martey, Executive Director, CDFA. “The Tax Credit Program is uniquely structured to enable effective, reliable deployment of public and private resources to our nonprofit partners. The result is the creation of long-lasting public-private partnerships that achieve critical local initiatives that enable our communities to be more resilient, vibrant places people want to work, live and visit.”
“As we continue on our mission to strengthen communities throughout the Granite State, we look forward to growing our impact with new programs that are responsive to our partner’s needs, the evolving investment world and the increasing demand from businesses looking for more ways to invest in their local communities,” continued Ms. Easterly Martey.
Twin Pines Housing received two awards. $250,000 in tax credits have been awarded for the creation of a community building at the Village at Crafts Hill. The building will provide much needed space for programming and community gathering, as well as an accessible laundry facility for the nearly 200 residents. “As we have introduced support services to the residents at Crafts Hill since taking ownership in 2015, the need for a dedicated programming area has grown,” said Andrew Winter, Executive Director. “We look forward to creating this essential resource over the next year.” Twin Pines also received $29,094 in L5 Capacity Building tax credit funds to support a strategic planning process.
Lebanon Opera House received $155,000 in tax credits to purchase a sound system and a new digital projector. The investment in equipment will enable the organization to provide increased access to arts and culture in downtown Lebanon, which will directly impact the local economy. “With a permanently installed sound system, LOH will move one step closer to becoming the Upper Valley’s premier location to experience consistent, quality live music,” said Lebanon Opera House Executive Director Joe Clifford. “The addition of a high-end digital projector affords LOH an opportunity to return its roots as a movie house and support the growing demand for multimedia live performances.”
On Thursday, June 7, Twin Pines Housing will hold a Ribbon Cutting for Parkhurst Community Housing at 4:30 pm at 10 Parkhurst Street in Lebanon, NH, followed immediately by the 2018 Annual Meeting at Upper Valley Senior Center, 10 Campbell Street, Lebanon. Refreshments will be served.
The 2018 Annual Meeting Agenda and slate of Board candidates can be viewed HERE
The 2017 Annual Meeting Minutes can be viewed HERE
Improving and increasing affordable, in-town housing for seniors and those with disabilities is what Hanover’s Article 17 is about.
Summer Park, adjacent to the Black Community Center, is Hanover’s only affordable senior housing and is comprised of three, 1970’s-era buildings with 8 apartments each. These 24 studio and one-bedroom apartments are in need of replacement and are energy inefficient with costly electric heat. The 12 second-floor units can be accessed by stairs only, making them unsuitable by seniors or disabled residents with poor mobility.
The Town of Hanover has tasked Twin Pines Housing, the region‘s nonprofit affordable housing provider, with redeveloping Summer Park. Twin Pines Housing and the Town had previously worked together on the development of the mixed-income community at Gile Hill. If approved, Article 17 would transfer Summer Park and an adjoining property to Twin Pines Housing, which would be responsible for the redevelopment of Summer Park. The first phase would involve the construction of a new, energy-efficient, 24-apartment building. A second phase will allow for additional units to serve seniors and disabled residents.
Twin Pines Executive Director Andrew Winter was featured in the Spring 2018 edition of Valley News ENTERPRISE Business Magazine. Click here to read the article.
On Monday, April 16, Vermont Housing Finance Agency awarded Federal Tax Credits to Twin Pines Housing’s development on Sykes Mountain Avenue. The property, which is less than one mile from downtown White River Junction, will create 30 units of mixed-income housing.
“This project will help address the continued need for affordable workforce housing in the Upper Valley,” said Andrew Winter, Executive Director for Twin Pines Housing. “Trends are showing that the cost of housing is outpacing the incomes of most people who live in the area. These apartments will be available for a wide range of incomes, including those who earn less than 50% of Area Median Income (AMI) as well as families that make between 80% and 120% of AMI,” Winter said.
Architect gbA has been designing affordable housing for years, and has developed plans for a highly energy efficient and environmentally sustainable community. Final designs and permitting are in process, and construction is expected to begin in July.
Twin Pines Housing recently received approval for a $500,000 line of credit through New Hampshire Charitable Foundation’s Impact Investing Program. The line of credit will provide access to valuable working capital during the predevelopment phase of construction of approximately 100 units of affordable housing in the Upper Valley .
“We’re grateful to New Hampshire Charitable Foundation and the many donors who have made this line of credit possible,” said Andrew Winter, Executive Director for Twin Pines Housing. “We currently have five projects in various phases of development. Having access to readily accessible funds helps keep construction on a cost-effective timetable,” Winter said.
“We recognize that affordable housing is critical to sustaining New Hampshire communities, and are pleased to be able to provide this loan capital to support Twin Pines’ efforts,” said Michael Wilson, vice president for finance at the New Hampshire Charitable Foundation. The Foundation awards more than $40 million in grants and scholarships annually, while also making “impact investments” – providing financing to advance work in areas including environmental protection, job creation and workforce housing. The Foundation also provides grant support to Twin Pines.
New Hampshire Housing recently awarded $648,235 in Low Income Housing Tax Credits to Twin Pines Housing for the development of new mixed-income housing on Tracy Street in West Lebanon. The sale of the tax credits is expected to generate approximately $5.7 million for the 29-unit project. In December, Twin Pines received a commitment of Community Development Block Grant funds, from the New Hampshire Community Development Finance Authority, after the City of Lebanon sponsored its application. Twin Pines Housing previously received a funding commitment for permanent financing from Mascoma Savings Bank through the Federal Home Loan Bank of Boston’s Affordable Housing Program.
“It’s exciting to have the final piece of funding in place,” said Andrew Winter, Executive Director for Twin Pines Housing, “and we appreciate the support of New Hampshire Housing in helping to create this much needed housing.” Winter said, “The new building will be the first net zero affordable rental property in New Hampshire.”
Final designs for the three-story building, which will include photovoltaic panels, an elevator and a community room, are nearly complete. Construction is expected to get underway in early summer and take approximately 14 months. When finished, the project will offer 1- and 2-bedroom apartments for low to moderate income individuals and families of all ages. It is expected that four of the apartments will be designated for people with developmental disabilities under an agreement with Visions for Creative Housing Solutions, an Enfield-based nonprofit that provides services and support for adults with disabilities. Located across Tracy Street from the Kilton Library, the new apartments will be walkable to shopping, services, and an Advance Transit bus hub.
Our friends at CLiF are experts at providing free and inspiring literacy programs. We’ve been grateful to partner with them to bring reading programs to The Villages at Crafts Hill. We hope you enjoy this video sharing their work. A special shout out to Faye Grearson, Twin Pines Housing’s Director of Supportive Services, and some of the residents at Crafts Hill who appear in the video!
226 Holiday Drive, Suite 20
White River Junction, VT 05001