LAC Breaks Ground on 142-Unit Boston-Area Affordable Project
The property will come online in 2025.
Lincoln Avenue Communities has broken ground on The Residences at Chestnut, a 142-unit affordable housing community in Manchester, N.H., in the Boston area. PC Construction is the project’s general contractor and Market Square Architects provided designs.
The development is partly financed through the $3 million in federal funds approved last year for income-restricted developments in the city. Completion is expected in 2025.
The Residences at Chestnut will comprise two buildings with studio, one- and two-bedroom floorplans. Of the total, 106 units will target households making less than 60 percent of the area median income and 36 will receive project-based vouchers, with 30 of them being reserved for veterans. Common-area amenities will include a pet spa, community kitchen, fitness center, rooftop lounge and a dog park.
Located at 351 Chestnut St., the site is close to Interstate 293 and within access range of Interstate 93, roughly 55 miles north of Boston. The property will take shape in downtown Manchester, within walking distance of The Palace Theatre, and various retail options. It will also be some 5 miles from the Manchester-Boston Regional Airport.
Lincoln Avenue Communities, a subsidiary of Lincoln Avenue Capital, last month commenced construction for an income and age-restricted community in Illinois. The company is currently operating a portfolio of more than 22,000 units across some 120 properties throughout 26 states.