Jun 3, 2015 12:00 AM
Historic mill near Concord may become apartments
The Associated Press
FRANKLIN, (AP) — A neighborhood housing provider is planning to turn a historic mill building near Concord into a residential community with 45 apartments.
The Concord Monitor reports the Riverbend Mill once housed the Franklin Light and Power Company. But CATCH Neighborhood Housing announced its intentions to renovate the building Monday at a Franklin City Council meeting.
The nonprofit housing provider leases apartments in Concord, Penacook and Bow. They agreed to purchase the mill from Franklin Riverside Lofts, LLC.
The estimated $10 million project is aimed at residents making 50 to 60 percent of the area's median income.
Authorities say funding and approval from the city are pending, but expected by fall 2016.
Construction would begin then and the project would be scheduled for completion about a year later.