Nov. 14—A California-based firm specializing in affordable housing projects returns to the Manchester Planning Board later this week in hopes of securing approval for the third and final piece of plans that will bring nearly 200 units of affordable housing to the Queen City.
Lincoln Avenue Capital plans to tear down the old police station at 351 Chestnut St. and put up a five-story building with up to 110 apartments and a parking garage. A four-story building with up to 50 units will be built across Merrimack Street in what is currently a parking lot, and another building is planned for 80 Merrimack St.
"That whole block will be transformed, providing affordable housing, which is exactly what the city needs," said Manchester Mayor Joyce Craig.
The buildings will include units for tenant receiving project-based Section 8 vouchers, providing housing to those considered "extremely low income" — earning up to 30% of the area median income, said Scott Shaw, Lincoln Avenue Capital's vice president and regional project partner for New England.
"Right now, we've achieved zoning and planning board approval on two lots and the third, 80 Merrimack, we'll hear from the planning board on Thursday," said Shaw. "We're hopeful that we'll be conditionally approved. In terms of readiness, we're very fortunate we have the support of the city and the mayor."
Shaw said the number of units expected to be generated by all three projects currently sits at 192, after developers agreed to add an extra floor onto the 80 Merrimack St. building. That's 192 units of studio, one and two bedroom apartments.
"What's unique about this project, and why I support it, is 100% of the units will be affordable," Craig said. "While we know we need to support all housing, all ranges of housing throughout the city and throughout the state, by providing almost 200 affordable units, that will make a huge difference in the city of Manchester. I'm really pleased with the work Scott and his team have done, that they believe in Manchester. We're thrilled to have him here and developing this. It's a corner area of the city, and it's really exciting."
The affordable units will accommodate individuals earning up to $37,560 annually and three- or four-person households earning up to $53,580, according to Shaw.
Lincoln Avenue will make use of a variety of state and federal funding sources. In October, the Board of Mayor and Aldermen voted to approve $3 million in federal funds to increase the number of affordable housing units in Manchester through these three projects.
The vote followed a similar Request for Proposal for $4.7 million from 2021, which funded upgrades to 101 units of housing at the NeighborWorks Elm Street Brownstones, 48 new affordable housing units at Kelley Falls through Manchester Housing and Redevelopment Authority, and the creation of 15 new supportive housing units through Waypoint and the Helping Hands Outreach Center.
Shaw said the relationship between his company and the city began with initial discussions with former director of homelessness initiatives Schonna Green.
"There's obviously an overwhelming need for affordable housing," Shaw said. "This is going to hit $18K to $59K income ranges. The teamwork with the city … I've been doing affordable development for 22 years, and I can't speak highly enough of the cross-collaborative effort that's there."
In the face of product supply and cost issues, Craig said, "we're not seeing a lot of developers who are proactively developing affordable units."
"We're tremendously grateful for what Scott and his team are doing," Craig said. "This is what their expertise is. They understand the market, they understand what they are doing — they are building quality units effectively and efficiently. There's tremendous need, and so them coming in and doing this is a win for our community."
Shaw said if all goes to plan, his firm plans to close on all three properties simultaneously in May 2023. A request for proposals for contractors is expected to be issued in the next 30 to 40 days.
Current timelines call for at least one of the buildings to possibly open by summer 2024, with all three coming online by early 2025.
"I think this is going to be a great opportunity," Shaw said. "Affordable housing revitalizes communities."
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