Franklin Savings Bank is providing $2.5MM in construction financing to assist with renovations to Harvey Heights located on Ledgewood Lane in Ashland, NH. Renovations are underway and will encompass new roofs, new heating systems, improved insulation, kitchen and bathroom updates, installation of sprinkler systems, upgrades to fire alarm systems, re-surfacing of parking lots, as well as other general updates to the two buildings. In addition, residents will receive reimbursement assistance for relocation costs during the renovation phase, which is expected to be completed by September 2020.
“Franklin Savings Bank is proud to partner with Lakes Region Community Developers on this project to assist with carrying out renovations and improvements at Harvey Heights,” commented John Bortolotto, VP, Commercial Loan Officer. “We were honored to sponsor a $350,000 grant from the Federal Home Loan Bank, which was awarded in January of this year to support the first phase of this project. We would also like to take this opportunity to thank the various partners and agencies who collaborated to make this project possible.”
Harvey Heights offers 40 affordable housing units to households earning up to 50 percent of the area median income. Residents also enjoy access to healthcare services and educational outreach onsite.
Established in 1869, Franklin Savings Bank is an independent, mutually-owned community bank, offering a full array of commercial lending, personal banking and investment services throughout the Central Lakes Region and southern New Hampshire. Headquartered in Franklin, the Bank has offices in Bristol, Boscawen, Tilton, Gilford, Merrimack and Goffstown, as well as an office in Bedford for business lending. The Bank also offers investment, insurance and financial planning services through its wholly-owned subsidiary, Independence Financial Advisors. As a recognized leader in providing the latest in financial services technology, Franklin Savings Bank remains committed to serving the needs of businesses, families and the communities it serves, through a dedicated team of employees, a diverse line of financial products and services, and continued investment in emerging technology.