Affordable Senior Housing Development Breaks Ground in Hampton Falls

HAMPTON FALLS, NH — Construction has begun for the Meadows at Grapevine Run, an affordable senior housing development in Hampton Falls by Avesta Housing, and will be available to rent next summer 2017. With financing help from Meredith Village Savings Bank (MVSB), the Meadows at Grapevine Run will offer 24 units of affordable, one-bedroom senior housing on a 57-acre site in the center of town, according to a press statement. It will also include a community room and laundry room.

The project is sponsored by Avesta Housing, a nonprofit developer that specializes in affordable housing.

“We’re proud to support local organizations, like Avesta Housing, that help our communities thrive,” said Rick Wyman, the president of Meredith Village Savings Bank. “With a loan processing office in Hampton Falls and construction for our new branch in Portsmouth slated to start soon, the Seacoast has become a major community focus for us. We are happy to do all we can to further the economic advancement of this area.”

“It has been my pleasure to work with Avesta for the financing of the Meadows at Grapevine Run,” said Gracie Cilley, the Vice President, Commercial Loan Officer for MVSB. “I was especially impressed by their plans for such affordable, yet comfortable housing for seniors. I have all the faith in the world that this project will be a wonderful success.”“We’re very grateful to Rick and Gracie, who have helped to make this project happen,” said Dana Totman, the president of Avesta Housing. “The Seacoast is the state’s highest cost rental market. It’s important for this vulnerable population to have access to quality housing at a reasonable cost.”The Meadows at Grapevine Run helps in fulfilling a need for affordable rental housing for the Seacoast’s growing senior population, where the rental housing supply has been particularly tight.

Tony Schinella

The Patch