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Northern New England Housing Investment Fund
Gilford Knolls III – Gilford, New Hampshire

Gilford Village Knolls III is the third and final phase of an elderly housing community promoted by a local citizens-based group. It’s located in Gilford, New Hampshire, a rural community on Lake Winnipesaukee, in the heart of a four-season recreational area known as the Lakes Region. The completed campus provides a total of 70 units for residents, of which nearly half are rent-subsidized by Rural Development. Stewart Property Management, a highly-regarded professional firm, operates all the Gilford Knolls properties.

The newest addition was developed by a seasoned non-profit developer and long-time member of NeighborWorks, the Lakes Region Community Developers. Phase III provides 24 one-bedroom units of senior housing contained within a single, two-story wood frame, elevator-serviced structure within walking distance to the local library, schools, and village stores.

Phase III is the first multi-family building in New Hampshire to be Passive House certified. The project design utilizes solar hot water and photovoltaic technologies and is built to Passive House standards. The resulting energy efficiency, high air quality, and low sound transmission contribute to overall increased comfort for its occupants and lower operating costs for the owner.

NNEHIF’s 481 Maine and New Hampshire Housing Fund III provided $3.6M in LIHTC equity to this project. Additional financing in the form of hard and soft debt from the NH Housing Finance Authority, the NH Community Loan Fund, and CDBG capital from the Town of Gilford completed funding for Gilford Knolls III.

Photo credit: John Hession