Concord Housing+ Redevelopment Purchases Problem Property In The City
Concord Housing + Redevelopment (CH+R) has completed a purchase and sales agreement for the property at 74 Rumford Street, Concord, NH. This four unit building, known to authorities for drugs deal and high crime, has long been a problem residence for neighbors and police alike. By adding this real estate to their diverse portfolio of properties in and surrounding Concord, Concord Housing + Redevelopment will transform this underperforming property into a quality, market rate rental.
“Now that 74 Rumford Street is in the CH+R portfolio of properties, things will improve dramatically, neighbors will return to quiet enjoyment, police resources will be freed up, and the community will have a fresh face in the neighborhood ”, says John Hoyt, Concord Housing + Redevelopment’s Executive Director.
Area realtor, Beth Vignati, EXIT Realty Great Beginnings, located at 6 Garvins Falls Road, Concord, NH, brokered the real estate transaction.
Substantial renovations planned include rehabilitating to today’s building codes; each of the four one-bedroom apartments will be outfitted with new cabinetry, bathrooms, flooring, and electrical. A new porch as well as a new retaining wall will be constructed. The basement, which is currently unused space, will have a Laundromat facility as well as on-site storage for each apartment. There is also on-site tenant parking.
“The majority of work and products will be provided by Concord area contractors,” says Hoyt. Our in-house construction staff will perform the bulk of the work in conjunction with trusted vendors. We are looking forward to turning 74 Rumford Street into a dwelling of which we can all be proud.