The development of affordable housing is central to the Community Development Finance Authority (CDFA)’s efforts to improve the livability and sustainability of communities statewide. Its work with The Bluebird Project, LLC in North Conway brought three affordable housing units and one unit that meets 80% AMI (area median income) criteria to a region facing extreme housing challenges.
“The Mount Washington Valley has seen a significant increase in the cost of living and cost of housing in the last 5-10 years,” explains Eliza Grant, Bluebird Project principal and owner. “Single family home assessments in 2023 increased by 125% since the last revaluation [page 10], meaning a formerly $200,000 starter home in Conway now costs $450,000.”
In addition, the apartment vacancy rate in the region is less than 1 percent, making it difficult for residents to find and secure affordable and reliable housing.
The Bluebird Project, LLC is an entrepreneurial effort of Conway residents Grant and Kit Hickey. They purchased and renovated an existing building in Conway Village for affordable housing in 2022-2023, the Frunzi House, and identified a similar opportunity in the former vacation cottage rental units at The Spruce Moose Lodge and Cottages on Seavey Street in North Conway.
To purchase and convert these units into year-round, livable spaces, The Bluebird Project turned to the Town of Conway to apply for Community Development Block Grant (CDBG) funding. After a thorough review process, CDBG funding of $495,000 was awarded to the Town of Conway on behalf of The Bluebird Project in 2022.
Future-focused housing
The CDBG funds made it possible for The Bluebird Project to purchase the four cottage units – the Spruce Moose Lodge will continue operations – and renovate three of them according to HUD Housing Quality Standards. These affordable housing units are slated to be accessible to low- and moderate-income residents for at least ten years.
The fourth unit required more time to rehabilitate and make available for rent, but the three affordable housing units were ready for occupancy in late 2022.
“The Bluebird Project is happy to support affordable housing in the Mount Washington Valley alongside CDFA and the CDBG program, which provides critically needed affordable housing. These grants help the community by housing teachers, local non-profit workers and other community members who otherwise may need to leave our community to seek housing elsewhere due to cost,” Grant says. “We are thankful for the housing that has been provided to our community through this program.”
Combining the innovation of an entrepreneurial team with local and federal resources made this project an affordable housing success for the Mount Washington Valley. CDFA values the strong partnerships and dedication to community that made this outcome possible.
For more information about The Bluebird Project, visit facebook.com/thebluebirdprojectnh.
