Worth Knowing: Twin Pines receives $500,000 line of credit for construction of affordable housing

Twin Pines Housing Trust, the primary developer of affordable housing in the Upper Valley, recently received approval for a $500,000 line of credit through New Hampshire Charitable Foundation’s Impact Investing Program. The line of credit will provide access to valuable working capital during the predevelopment phase of construction of approximately 100 units of affordable housing in the Upper Valley .

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“We’re grateful to New Hampshire Charitable Foundation and the many donors who have made this line of credit possible,” said Andrew Winter, Executive Director for Twin Pines Housing.  “We currently have five projects in various phases of development. Having access to readily accessible funds helps keep construction on a cost-effective timetable,” Winter said. “We recognize that affordable housing is critical to sustaining New Hampshire communities, and are pleased to be able to provide this loan capital to support Twin Pines’ efforts,” said Michael Wilson, vice president for finance at the New Hampshire Charitable Foundation.  The Foundation awards more than $40 million in grants and scholarships annually, while also making “impact investments” – providing financing to advance work in areas including environmental protection, job creation and workforce housing. The Foundation also provides grant support to Twin Pines.

About Twin Pines Housing: Twin Pines Housing is the leading developer and provider of affordable housing in the Upper Valley region for individuals and families with low to moderate incomes. Its mission is to strengthen the community by developing and improving affordable homes for individuals and families, and to support its tenants and owners.Twin Pines Housing currently owns nearly 420 rental apartments with another 100 units in development. To learn more visit twinpineshousing.org.

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