{"id":12961,"date":"2012-12-26T07:30:10","date_gmt":"2012-12-26T12:30:10","guid":{"rendered":"http:\/\/stateimpact.npr.org\/new-hampshire\/?p=12961"},"modified":"2013-01-02T16:00:01","modified_gmt":"2013-01-02T21:00:01","slug":"developer-sees-affordable-housing-opportunity-in-old-mill","status":"publish","type":"post","link":"https:\/\/stateimpact.npr.org\/new-hampshire\/2012\/12\/26\/developer-sees-affordable-housing-opportunity-in-old-mill\/","title":{"rendered":"Developer Sees Affordable Housing Opportunity In Old Mill"},"content":{"rendered":"<div id=\"attachment_12971\"  class=\"wp-caption module image center\" style=\"max-width: 620px;\"><a class=\"fancybox\" title=\"The Pine Valley Mill in Milford is one of several affordable housing projects to benefit from federal community block grants\" href=\"http:\/\/stateimpact.npr.org\/new-hampshire\/files\/2012\/12\/Altered-Milford-Mill-Wide-Shot.jpg\" rel=\"\"><img decoding=\"async\" loading=\"lazy\" class=\"size-large wp-image-12971\" title=\"Milford Mill Wide Shot\" src=\"http:\/\/stateimpact.npr.org\/new-hampshire\/files\/2012\/12\/Altered-Milford-Mill-Wide-Shot-620x268.jpg\" alt=\"\" width=\"620\" height=\"268\" srcset=\"https:\/\/stateimpact.npr.org\/new-hampshire\/files\/2012\/12\/Altered-Milford-Mill-Wide-Shot-620x268.jpg 620w, https:\/\/stateimpact.npr.org\/new-hampshire\/files\/2012\/12\/Altered-Milford-Mill-Wide-Shot-300x129.jpg 300w, https:\/\/stateimpact.npr.org\/new-hampshire\/files\/2012\/12\/Altered-Milford-Mill-Wide-Shot.jpg 1920w\" sizes=\"(max-width: 620px) 100vw, 620px\" \/><\/a><p class=\"wp-media-credit\">Amanda Loder \/ StateImpact New Hampshire<\/p><p class=\"wp-caption-text\">The Pine Valley Mill in Milford is one of several affordable housing projects to benefit from federal community block grants<\/p><\/div>\n<p>Recently, a handful of towns, including Milford, <a title=\"CDFA Awards $3.1 Million to Affordable Housing, Public Infrastructure\" href=\"http:\/\/www.nhcdfa.org\/resources\/news\/124\" target=\"_blank\">split $3.1 million in community development block grants<\/a> to help create more affordable housing.\u00a0 According to <a title=\"2012 Rental Survey\" href=\"http:\/\/www.nhhfa.org\/rl_docs\/housingdata\/rental_survey\/2012rentsurveymetrotowns.pdf\" target=\"_blank\">statewide estimates<\/a>, only one-in-six two bedroom apartments is affordable to a median income renter.\u00a0 But the Granite State has something of a homegrown advantage in tackling this problem.<!--more--><\/p>\n<!--[if lt IE 9]><script>document.createElement('audio');<\/script><![endif]-->\n<audio class=\"wp-audio-shortcode\" id=\"audio-12961-1\" preload=\"none\" style=\"width: 100%;\" controls=\"controls\"><source type=\"audio\/mpeg\" src=\"https:\/\/stateimpact.npr.org\/new-hampshire\/files\/2012\/12\/nht122612al1.mp3?_=1\" \/><a href=\"https:\/\/stateimpact.npr.org\/new-hampshire\/files\/2012\/12\/nht122612al1.mp3\">https:\/\/stateimpact.npr.org\/new-hampshire\/files\/2012\/12\/nht122612al1.mp3<\/a><\/audio>\n<p>Right now, the Pine Valley Mill in Milford is less than impressive.\u00a0 Like many old New England mills, this one looks a bit\u2026ramshackle at the moment.\u00a0 But developer Roberto Arista sees a lot of potential in this dingy space.\u00a0 As we enter the mill, he points out some changes.<\/p>\n<p>\u201cSo this is one of the stairwells,&#8221; Arista says.\u00a0 &#8220;And really, it\u2019s not going to be the front door, the front door\u2019s going to be on the other side.&#8221;<\/p>\n<div id=\"attachment_12978\"  class=\"wp-caption module image right\" style=\"max-width: 300px;\"><a class=\"fancybox\" title=\"Developer Roberto Arista and his company, Dakota Partners, are set to renovate the Pine Valley Mill.\" href=\"http:\/\/stateimpact.npr.org\/new-hampshire\/files\/2012\/12\/Altered-Arista-Portrait-copy.jpg\" rel=\"\"><img decoding=\"async\" loading=\"lazy\" class=\"size-medium wp-image-12978\" title=\"Roberto Arista Portrait\" src=\"http:\/\/stateimpact.npr.org\/new-hampshire\/files\/2012\/12\/Altered-Arista-Portrait-copy-300x196.jpg\" alt=\"\" width=\"300\" height=\"196\" srcset=\"https:\/\/stateimpact.npr.org\/new-hampshire\/files\/2012\/12\/Altered-Arista-Portrait-copy-300x196.jpg 300w, https:\/\/stateimpact.npr.org\/new-hampshire\/files\/2012\/12\/Altered-Arista-Portrait-copy-620x406.jpg 620w, https:\/\/stateimpact.npr.org\/new-hampshire\/files\/2012\/12\/Altered-Arista-Portrait-copy.jpg 1548w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><\/a><p class=\"wp-media-credit\">Amanda Loder\/StateImpact New Hampshire<\/p><p class=\"wp-caption-text\">Developer Roberto Arista and his company, Dakota Partners, are set to renovate the Pine Valley Mill.<\/p><\/div>\n<p>Arista is a developer with Massachusetts-based <a title=\"Dakota Partners\" href=\"http:\/\/www.dakotapartners.net\/\" target=\"_blank\">Dakota Partners<\/a>.\u00a0 The company specializes in affordable housing.\u00a0 And right now, its big project is the Pine Valley Mill.\u00a0 The building\u2019s core dates back to the mid-1800s, but there are a number of later additions.\u00a0 A handful of commercial tenants are renting some of the space.\u00a0 But it\u2019s mostly just a vacant collection of red brick boxes, draped in cobwebs.\u00a0 Looks aside, as we continue our tour of the mill, Arista says he\u2019s optimistic about the project.<\/p>\n<p>\u201cThis building has been maintained perfectly.\u00a0 So it has absolutely no structural issues.\u00a0 Not everything is perfectly straight.\u00a0 But it\u2019s been around for 200 years,&#8221; he says.<\/p>\n<p><div class=\"related-content alignleft\"><h4 class=\"related-header\">Related<\/h4><div class=\"links\"><h5>Posts<\/h5><ul><li class=\"link\"><a href=\"http:\/\/stateimpact.npr.org\/new-hampshire\/2012\/11\/16\/fiscal-cliff-would-not-hit-new-hampshire-as-hard-as-other-states\/\">Fiscal Cliff Would Not Hit New Hampshire As Hard As Other States<\/a><\/li><li class=\"link\"><a href=\"http:\/\/stateimpact.npr.org\/new-hampshire\/2012\/10\/31\/are-granite-staters-better-off-than-four-years-ago\/\">Are Granite Staters Better Off Than Four Years Ago? Depends On Your Job<\/a><\/li><li class=\"link\"><a href=\"http:\/\/stateimpact.npr.org\/new-hampshire\/2012\/07\/26\/affordable-housing-community-theater-and-broadband-expansion-all-benefit-from-cdfa-tax-credits\/\">Affordable Housing, Community Theater And Broadband Expansion All Benefit From CDFA Tax Credits<\/a><\/li><li class=\"link\"><a href=\"http:\/\/stateimpact.npr.org\/new-hampshire\/2012\/11\/28\/new-hampshire-ranks-as-most-expensive-state-to-raise-children\/\">New Hampshire Ranked As &#8220;Most Expensive State To Raise Children&#8221;<\/a><\/li><\/ul><\/div><div class=\"topics\"><h5>Topics<\/h5><p class=\"topic\"><img class=\"alignleft\" src=\"http:\/\/stateimpact.npr.org\/new-hampshire\/files\/2011\/07\/298202673_6316f2a90e-60x60.jpg\" height=\"60\" width=\"60\" \/><a href=\"http:\/\/stateimpact.npr.org\/new-hampshire\/topic\/mills\/\">Where The Mills Are (And Aren&#8217;t)<\/a><\/p><p class=\"topic\"><img class=\"alignleft\" src=\"http:\/\/stateimpact.npr.org\/new-hampshire\/files\/2011\/07\/2256381409_fcc104ffdd1-60x60.jpg\" height=\"60\" width=\"60\" \/><a href=\"http:\/\/stateimpact.npr.org\/new-hampshire\/topic\/merrimack-valley\/\">What You Need To Know About The Merrimack Valley<\/a><\/p><p class=\"topic\"><img class=\"alignleft\" src=\"http:\/\/stateimpact.npr.org\/new-hampshire\/files\/2011\/10\/1058204843_32496fe28c-60x60.jpg\" height=\"60\" width=\"60\" \/><a href=\"http:\/\/stateimpact.npr.org\/new-hampshire\/topic\/new-hampshire-economy\/\">Your Guide To New Hampshire&#8217;s Economy<\/a><\/p><\/div><\/div>When it\u2019s finished, Pine Valley will be a mixed-use building.\u00a0 The hair salon, karate studio, power plant and dog spa will get to stay where they are.\u00a0 But Arista\u2019s company will overhaul the outside aesthetic of the site, and gut the unoccupied space, turning it into 50 affordable housing units.\u00a0 Although they\u2019ll look more like industrial-chic lofts, they\u2019ll rent for below market rate.\u00a0 Arista expects most tenants will be young professionals.\u00a0 Milford Community Development Director Bill Parker says that\u2019s exactly what his town needs.<\/p>\n<p>\u201cThe past couple of years, I think, the vacancy rates have been very low.\u00a0 So it has been hard for people to find decent, suitable housing,&#8221; Parker says.\u00a0 &#8220;And we\u2019re finding that multi-family housing or town homes or anything that\u2019s more affordable is what\u2019s really in demand right now.\u201d<\/p>\n<p>But affordable housing doesn\u2019t come cheaply.\u00a0 Arista says the price tag on this project is $14 million.<\/p>\n<p>About half of that cost will be cut thanks to various federal incentives.<\/p>\n<div id=\"attachment_12980\"  class=\"wp-caption module image left\" style=\"max-width: 300px;\"><a class=\"fancybox\" title=\"Milford Community Development Director Bill Parker says his town needs more affordable rental options\" href=\"http:\/\/stateimpact.npr.org\/new-hampshire\/files\/2012\/12\/Altered-Bill-Parker-Portrait.jpg\" rel=\"\"><img decoding=\"async\" loading=\"lazy\" class=\"size-medium wp-image-12980\" title=\"Bill Parker Portrait\" src=\"http:\/\/stateimpact.npr.org\/new-hampshire\/files\/2012\/12\/Altered-Bill-Parker-Portrait-300x219.jpg\" alt=\"\" width=\"300\" height=\"219\" srcset=\"https:\/\/stateimpact.npr.org\/new-hampshire\/files\/2012\/12\/Altered-Bill-Parker-Portrait-300x219.jpg 300w, https:\/\/stateimpact.npr.org\/new-hampshire\/files\/2012\/12\/Altered-Bill-Parker-Portrait-620x453.jpg 620w, https:\/\/stateimpact.npr.org\/new-hampshire\/files\/2012\/12\/Altered-Bill-Parker-Portrait.jpg 1452w\" sizes=\"(max-width: 300px) 100vw, 300px\" \/><\/a><p class=\"wp-media-credit\">Amanda Loder \/ StateImpact New Hampshire<\/p><p class=\"wp-caption-text\">Milford Community Development Director Bill Parker says his town needs more affordable rental options<\/p><\/div>\n<p>For example, Dakota Partners was awarded a tax credit by the state\u2019s <a title=\"New Hampshire Housing Finance Authority\" href=\"http:\/\/www.nhhfa.org\/\" target=\"_blank\">Housing Authority<\/a>.\u00a0 And <a title=\"CDFA Awards $3.1 Million to Affordable Housing, Public Infrastructure\" href=\"http:\/\/www.nhcdfa.org\/resources\/news\/124\" target=\"_blank\">$388,800 federal block grant awarded to Milford<\/a> will help with site improvements, like making the parking lot easier to access from the road.\u00a0 Arista admits it\u2019s usually cheaper to build fresh, rather than rehab.\u00a0 Especially since old buildings can hide expensive surprises.\u00a0 But, he says, \u201cFundamentally, we just believe in reusing what\u2019s there.\u201d<\/p>\n<p>This idea is called \u201cadaptive reuse.\u201d\u00a0 It means taking an old, unused building and using it for an alternative purpose.\u00a0 This has been going on for a long time.\u00a0 Manchester\u2019s Millyard is a prime example.\u00a0 But over the past ten years, this model is making more and more sense to developers.<\/p>\n<p>\u201cThe market is changing, both in terms of where people want to live, and also what sorts of structures they want to live in.\u201d says Ben Frost with the New Hampshire Housing Finance Authority.<\/p>\n<p>He says the advantage of mills is that they\u2019re often in built-up areas\u2014a big draw for potential residents.\u00a0 But more than that, is the affordability aspect.<\/p>\n<p>\u201cWe have seen, over the past decade or so, an increasing proportion of people\u2019s wages being devoted to their housing costs as housing costs have risen faster than their incomes,&#8221; Frost says.\u00a0 &#8220;It was partly corrected by the recession, but only partly corrected.\u00a0 We still are left with a significant problem, statewide, of housing affordability.\u201d<\/p>\n<p>Developer Roberto Arista is already seeing some of that demand for the Milford mill project.<\/p>\n<p>\u201cThe town is getting all kinds of calls about that because they want to know when they can start, you know, renting.\u00a0 And so we\u2019re trying to build up a little bit of a waiting list,&#8221; he says.<\/p>\n<p>Arista expects construction on the Pine Valley mill project to begin in March.\u00a0 And if all goes well, tenants should be able to move in by the beginning of 2014.<\/p>\n<div id=\"attachment_12979\"  class=\"wp-caption module image center\" style=\"max-width: 620px;\"><a class=\"fancybox\" title=\"Parts of the mill, like this space, were previously occupied by other commercial tenants.  These vacant spaces will be renovated into one- and two-bedroom apartments\" href=\"http:\/\/stateimpact.npr.org\/new-hampshire\/files\/2012\/12\/Altered-Millford-Mil-Inside.jpg\" rel=\"\"><img decoding=\"async\" loading=\"lazy\" class=\"size-large wp-image-12979\" title=\"Inside the Milford mill\" src=\"http:\/\/stateimpact.npr.org\/new-hampshire\/files\/2012\/12\/Altered-Millford-Mil-Inside-620x304.jpg\" alt=\"\" width=\"620\" height=\"304\" srcset=\"https:\/\/stateimpact.npr.org\/new-hampshire\/files\/2012\/12\/Altered-Millford-Mil-Inside-620x304.jpg 620w, https:\/\/stateimpact.npr.org\/new-hampshire\/files\/2012\/12\/Altered-Millford-Mil-Inside-300x147.jpg 300w, https:\/\/stateimpact.npr.org\/new-hampshire\/files\/2012\/12\/Altered-Millford-Mil-Inside.jpg 1786w\" sizes=\"(max-width: 620px) 100vw, 620px\" \/><\/a><p class=\"wp-media-credit\">Amanda Loder \/ StateImpact New Hampshire<\/p><p class=\"wp-caption-text\">Parts of the mill, like this space, were previously occupied by other commercial tenants. These vacant spaces will be renovated into one- and two-bedroom apartments<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Recently, a handful of towns, including Milford, split $3.1 million in community development block grants to help create more affordable housing.\u00a0 According to statewide estimates, only one-in-six two bedroom apartments is affordable to a median income renter.\u00a0 But the Granite State has something of a homegrown advantage in tackling this problem.<\/p>\n","protected":false},"author":28,"featured_media":12971,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":[],"categories":[51],"tags":[465,464,378,511,463,516,521],"acf":[],"_links":{"self":[{"href":"https:\/\/stateimpact.npr.org\/new-hampshire\/wp-json\/wp\/v2\/posts\/12961"}],"collection":[{"href":"https:\/\/stateimpact.npr.org\/new-hampshire\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/stateimpact.npr.org\/new-hampshire\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/stateimpact.npr.org\/new-hampshire\/wp-json\/wp\/v2\/users\/28"}],"replies":[{"embeddable":true,"href":"https:\/\/stateimpact.npr.org\/new-hampshire\/wp-json\/wp\/v2\/comments?post=12961"}],"version-history":[{"count":1,"href":"https:\/\/stateimpact.npr.org\/new-hampshire\/wp-json\/wp\/v2\/posts\/12961\/revisions"}],"predecessor-version":[{"id":13038,"href":"https:\/\/stateimpact.npr.org\/new-hampshire\/wp-json\/wp\/v2\/posts\/12961\/revisions\/13038"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/stateimpact.npr.org\/new-hampshire\/wp-json\/wp\/v2\/media\/12971"}],"wp:attachment":[{"href":"https:\/\/stateimpact.npr.org\/new-hampshire\/wp-json\/wp\/v2\/media?parent=12961"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/stateimpact.npr.org\/new-hampshire\/wp-json\/wp\/v2\/categories?post=12961"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/stateimpact.npr.org\/new-hampshire\/wp-json\/wp\/v2\/tags?post=12961"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}