When Beverly Wilshire wanted a new apartment she had particular needs. She needed a unit which was ADA accessible, was safe and secure, and was in her hometown of Nashua.
That’s how she found her way to the Apartments at Cotton Mill. The project repurposed an abandoned millyard building and created 109 units of mixed-use housing adjacent to Main Street.
In 2006, developer John Stabile wanted to bring the building to life, but the economic downturn scuttled the plans for market-rate housing. He revived the project
by taking his first venture into affordable housing. Stabile was able to leverage public resources, including $1,000,000 in CDFA Investment Tax Credits.
“We were able to sell the CDFA tax credits to businesses right here in Nashua because they believed in the project and what it would do for the city,” says Stabile.
The completed complex offers 55 aff ordable and 54 market-rate units. The $26 million project has revitalized a blighted building, provided long-term housing affordability, mitigated a flood plain, and promoted walkability/livability in one of the state’s great downtowns.
When Beverly finally saw Cotton Mill, she was able to check off every box on her must-have list. “I loved it immediately,” she says. “I wanted to move in right there.”