Redden Gardens
Built in 1974, Redden Gardens was originally financed through HUD under Section 221(d)(4). The community includes 150 one, two and three bedroom apartments, 63 of which are covered by Section 8 project-based subsidy. The property is conveniently located near local shopping.
Redden Gardens
2 Adelle Drive
Dover, New Hampshire 03820
Phone: (603) 742 6828
Fax: (603) 743 3524
Office Hours: M-F 9:00 am-5:00 pm
Preservation Transaction Description
First Mortgage Financing: Tax-exempt bonds issued through New Hampshire Housing Finance Agency.
Equity Financing: Equity raised through 4% low income housing tax credits.
Section 8 Contract Renewal: Yes - with an OCAF increase.
Property Rehabilitation Scope
$4 million in total rehabilitation funding including:
- Kitchen cabinets, countertops, appliances and flooring replacement
- Bathroom vanity, water closet, lavatory and flooring replacement
- Heating and hot water system replacement
- New vinyl windows
- New siding
- New exterior and interior doors
- New carpeting throughout apartments
- Repavement of all parking areas
- New landscaping
- New exterior lighting
- New management office
Other Benefits for Residents and the Community
Several new playgrounds, an exercise facility, computer center, meeting facility, and community kitchen.
Development Partners
First Mortgage Lender
New Hampshire Housing Finance Authority
Tax Credit Investor
Boston Financial
Legal Counsel
Holland & Knight LLP
Sheehan Phinney Bass & Green
Architect
Curtis, Walter, Stewart Architects
General Contractor
North Branch Construction
Due Diligence Contractors
Appraisal: F&M Appraisal
Environmental: Arc Environmental Consultants
Surveyor: Owen Haskell, Inc.
