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BLVD Group, a company dedicated to developing and owning affordable housing, has announced its acquisition of Concord Royal Gardens in Concord, NH for $97 million. This 300-unit community will undergo a renovation project with the help of New Hampshire Housing, the U.S. Department of Housing and Urban Development (HUD), Boston Financial, and Citizens Bank.
The collaboration between these organizations marks the largest single bond-financed housing transaction in New Hampshire’s history. Originally built in 1970, Concord Royal Gardens is one of the city’s biggest affordable housing communities and will be revitalized through extensive redevelopment efforts.
With this project, BLVD aims to provide high-quality and sustainable affordable housing options for residents in Concord while also preserving affordability for at least 30 years. According to Rob Budman, managing principal at BLVD Group: “This investment not only extends affordability but also addresses the urgent need for new units within our state’s supply.”
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