BLVD Group, a company specializing in affordable housing development and ownership, has recently announced their acquisition of Concord Royal Gardens in Concord, NH for $97 million. This 300-unit community will undergo extensive renovations as part of a collaboration between BLVD Group, New Hampshire Housing, the U.S. Department of Housing and Urban Development (HUD), Boston Financial and Citizens Bank.
The project is reported to be the largest single bond-financed housing transaction in the state’s history. Originally built in 1970, Concord Royal Gardens is one of the city’s largest affordable housing communities and will benefit from these planned improvements which aim to revitalize the property while maintaining its affordability for at least another 30 years.
According to Rob Budman, managing principal at BLVD Group: “This redevelopment project not only extends affordability but also adds much-needed new units to our supply of affordable housing. It marks an important step towards our goal of providing high-quality and sustainable homes for residents in Concord.”
