Rockland Trust Provides $9.4 Million Financing for Historic Hallsville School
Rockland Trust has provided $9.4 million in financing to support the redevelopment of the historic Hallsville School in Manchester, New Hampshire. The project aims to transform the 1891 elementary school into a 36-unit, mixed-income residential community.
The project details:
- Transforming: The vacant school will be converted into Hallsville School Apartments.
- Units: It will include 36 mixed-income residential units.
- Preservation: The development will preserve and restore the historic landmark while incorporating affordable housing.
"Hallsville School has been a part of Manchester for over 130 years, and we are excited to give it a new chapter as modern, affordable apartments," said Preston Hunter, Managing Member of the development team, Hallsville Housing Limited Partnership.
Community Benefits:
- The existing gymnasium will remain available for recreational use by the City of Manchester.
- Site improvements will include enhanced landscaping, revitalized green space, and improved outdoor recreation areas.
"Across Southern New Hampshire, communities are facing a shortage of affordable and workforce housing," noted Kelly Nguyen, SVP Commercial Banking Officer at Rockland Trust. "Hallsville School Apartments is a prime example of how Low-Income Housing Tax Credit developments can address this need while preserving historic landmarks."
Development Highlights:
- Originally built in 1891, the school will retain its historic character through the restoration of the clock tower and rehabilitation of masonry and architectural details.
- Former classrooms will be converted into modern apartments, preserving the building's unique features.
- Residents will have access to amenities such as a fitness room, community room, bike storage, and on-site parking.
The project underscores Rockland Trust's commitment to bringing affordable housing opportunities to Southern New Hampshire, fostering community growth, and preserving historical landmarks.