Image courtesy of Market Square Architects
Catholic Charities NH recently began construction on a nearly 100-unit mixed-income multifamily development in Peterborough that’s being funded in part by Evernorth, the Vermont-based affordable housing lender formed in 2020 that’s providing money for developments across northern New England.
The Vose Farm Residences is Catholic Charities NH’s first real estate development and the nonprofit said it’s looking to develop more housing across the state to address one of the root causes of poverty and other social ills: unstable, unaffordable housing.
“The growing affordable housing shortage in the Monadnock Region is placing significant strain on vulnerable populations, from seniors on fixed incomes to families on the brink of homelessness,” Tom Blonski, president and CEO of Catholic Charities NH, said in a statement. “Vose Farm Residences will provide critical relief, with the housing needed to help individuals and families build stable lives, while also stimulating the local economy and strengthening the fabric of the Monadnock community. This project symbolizes the collective power of people coming together for the common good.”
The Vose Farm project will be built in two phases: a 64-unit first phase for households earning 30 percent to 60 percent of the area median income and a 32-unit second phase.
The development is rising on the site of a single-story office building, some of which appears to have been incorporated into the new development, according to renderings provided by Catholic Charities NH. Amenities will include community meeting spaces, walking paths to the nearby Contoocook River. Supportive services will be available to residents, including case management, stabilization services, and connections to community resources.
“Evernorth is proud to be an investor in Vose Farm Residences, which offers a remarkable range of housing options from apartments supported by project-based vouchers to homes affordable for those earning up to 80 percent of the area median income,” Evernorth Senior Vice President Cynthia Lacasse said in a statement. “We want to congratulate Catholic Charities New Hampshire for their first groundbreaking on a low-income housing tax credit property and especially for providing housing for a mix of income levels, capturing more of the available rental market that meets the needs of a broad range of renters in our community.”
Catholic Charities NH is the project’s developer and sponsor. New Hampshire Housing coordinated the tax-exempt bond financing for construction, while Evernorth is providing the equity investment through its Housing New England Fund VI. Additionally, Catholic Charities collaborated with Peterborough officials to obtain funding support through the Department of Business and Economic Affairs’ InvestNH Municipal Per Unit Grant program, aimed at supporting affordable housing development. Market Square Architects is the project architect and Hutter Construction is the construction manager.
Occupancy for the first phase is expected to begin in the fall of 2026.
