The Rail Yard
The Rail Yard is a new affordable housing apartment community that will contain a mix of income restricted units and market rate units in Concord, NH.
With waitlists for affordable and subsidized housing stretching from six months to several years, the demand for safe and affordable housing in Concord in strong. Planned in three phases, The Rail Yard will feature 199 total units in four newly constructed, three-story wood-frame buildings. Phase 1 will be comprised of 96 affordable units and a 2,500 square foot clubhouse. The one- and two-bedroom units will be eligible for residents making 30-60% AMI.
The 34-acre site was previously the site of the Boston & Main Railroad, dating back to 1842. More recently, the blighted site had fallen into disrepair. This new affordable housing community will provide safe, vibrant, and affordable housing to the community while also revitalizing the area.
Financing for this project has been secured through a combination of soft debt financing and a permanent debt construction loan from New Hampshire Housing and federal tax credit equity from Stratford Capital.
Total Development Costs: $26.8 million
Financing Partners: New Hampshire Housing Finance Authority, Stratford Capital