BOSTON, MA - Boston Capital is investing in the construction of Conway Pines Apartments, a 32-unit multifamily development for families in Conway, NH. Conway Pines Apartments will be built with tax credit equity from the Low Income Housing Tax Credit (LIHTC) program. The general partner is Great Bridge Conway Pines, LLC, based in Manchester, NH.
"This investment represents Boston Capital's eighth transaction with our developer partner Great Bridge Properties and we are pleased to add this outstanding property to our multifamily portfolio," said Jack Manning, president and CEO of Boston Capital. "Conway Pines Apartments will offer residents excellent access to education, healthcare, shopping, services, public transportation and employment opportunities."
Located on nearly three acres, Conway Pines Apartments will feature six one-bedroom, 23 two-bedroom and three three-bedroom units located in one, three-story buildings. Units will include dishwashers, patios/balconies and energy saving features. Development amenities will include a community room, a common laundry room on each floor and a playground. The property will also benefit from geothermal cooling, heating and hot water. Units will be available to families earning 60 percent or less of the Area Median Income (AMI).
The construction of this property will create approximately 48 jobs in the Conway area. To date, Boston Capital has invested in 20 developments in 17 communities across New Hampshire.
About Boston Capital
Boston Capital, headquartered in Boston, MA, is a real estate investment and advisory firm specializing in tax advantaged investments in affordable multifamily housing, energy, film and economic development and equity investment in market rate apartment communities. Boston Capital's holdings include more than 2,450 multifamily apartment properties in 49 states and the District of Columbia, constituting nearly 159,000 apartments with a development cost in excess of $13.4 billion. Boston Capital is the largest owner/investor of apartment properties in the US.