Lakes Region Community Developers (LRCD) is proud to announce they were recently awarded a $20,000 grant from the Greater Lakes Region Children’s Auction. The grant will help support LRCD’s Affordable Housing Program, which is responsible for developing and managing affordable rental housing throughout the Lakes Region, including Belknap, southern Grafton, southern Carroll, and northern Merrimack counties.
Through their mission to create opportunities for the Lakes Region to thrive by developing healthy homes, creating vibrant community assets, and engaging residents, LRCD continues to work to address the dire need for affordable rental housing for people of low income in the Lakes Region.
According to NH Housing's 2022 Residential Rental Cost Survey Report (July 2022), rental vacancy rates in the Lakes Region are less than 1% (a 5% vacancy rate indicates a healthy market), and the median rents for two-bedroom apartments ranged from $1,275 in Belknap County, up to $1,693 in Grafton County. This is a 24-48% increase in rents over the last five years.
This grant from the Greater Lakes Region Children’s Auction will aid LRCD in continuing to own and operate its existing portfolio of affordable rental apartments, which provide safe and healthy housing for approximately 315 children in the Lakes Region. In addition, this funding will help LRCD keep rents in their unsubsidized apartments in Laconia affordable to the families of low income who live and work here year-round, as well as apply for land use approvals and funding for new housing developments in Ashland and Wolfeboro.
“The Lakes Region desperately needs more affordable rental apartments for families of low income,” says LRCD Executive Director, Carmen Lorentz. “As a non-profit developer of affordable housing, we are proud of our work in doing all we can to meet the needs of the community and are so thankful to the Greater Lakes Region Children’s Auction for its support.”
Photo Caption: Lakes Region Community Developers Executive Director, Carmen Lorentz accepts grant award check from Children’s Auction Executive Director, Jenn Kelley