Dakota Closes on Friars Court Phase 1; Awarded Financing for Phase 2
Dakota Partners recently secured all financing and approvals needed to complete construction financing and start construction on the property at 161 Lowell Rd in Hudson, New Hampshire. The site will be home to a new affordable housing development called Friars Court. Planned in two phases, Dakota also received financing for phase 2 via unanimous vote from the New Hampshire Housing Finance Authority back in the spring of 2020.
The community will be made up of two separate buildings, the first of which will include 47 units. Phase 2 will include the second building of 34 units and a Clubhouse for all residents to use. Each of the buildings will be a mix of one- and two-bedroom units.
“As the first family-affordable development built in Hudson, Friars Court will bring incredible value to the community, offering residents an affordable, safe, sustainable, and inviting place to call home,” said Dakota Principal, Roberto Arista. “We’re excited to continue serving the state of New Hampshire and providing much-needed, quality housing for families that might otherwise be priced out of these neighborhoods.”
Construction will be entirely designed as Certified Passive House to ensure high-energy efficiency throughout the year. Passive House design is a set of energy efficient building principles that utilizes heavy insulation, airtight building envelope and heat-recovery ventilation systems to reduce overall energy consumption.
A real estate developer and contractor, Dakota Partners acquires and develops multi-family rental and condo communities across New England and the mid-Atlantic, a significant percentage of which are garden-style affordable housing developments. At the core of every project is Dakota’s mission to improve the lives of the people who live in our communities. By integrating high-level design, green building technologies, and quality craftsmanship, Dakota provides warm and inviting homes that enrich both the community and its residents. Strategic partnerships with neighborhood groups and public officials ensure the success of these projects for all stakeholders in the community.