Affordable Housing Loans

River’s Edge – Laconia, NH

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Through the Positive Social Purpose Lending Program and in partnership with the Community Reinvestment Fund, participation was purchased in a loan providing permanent financing for an affordable housing property located in Laconia, New Hampshire. The project contains 32 rental units and is affordable to residents with income levels between 50% and 60% of the area median income. Unit amenities include full kitchen appliances and balconies or patios. Common area amenities include elevator access, a common meeting area, laundry facilities, a riverfront walking path and 36 parking spaces. The project also includes an on-site infant daycare facility operated by Lakes Region Childcare Services.

Transaction Summary:

Property Name: River’s Edge
Location: 126 Union Avenue, Laconia, NH 03246
Units: 32
Loan Amount: $813,750
Term: 40 years
Purchase Date: January 12, 2017


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