New Hampshire Welcomes New 55 And Over Manufactured Home Community
Land deeded to the municipality of Allenstown, New Hampshire when Ronald Reagan was still in office has been approved for conversion to manufactured homes for those 55 and over.
Purchased by the Hynes Group, LLC, Allentown’s Board of Selectmen approved the sale of four pieces of land that was originally deeded to the town in the 80s and has not been obligated to pay taxes since.
New 55 and Over Community for Allenstown
Per online sources, the new owners will be Holiday Acres Mobile Home Community. Intended to provide quality built manufactured housing for those 55 and over, The Hynes Group, LLC, has received approval for 210 prefabricated modular homes. In negotiations since August 2016 with Allenstown officials, the developers will now need to submit their design plans for the new 55 and over manufactured home community’s approval. Once adjustments are made and the developers receive final approval – Allenstown, New Hampshire will have a few more options for senior housing. According to Shaun Mulholland, the Town Administrator, “That will be further down the line.” As it stands for now: “This is the beginning of the beginning,” explained Mulholland.
Housing & Revenue
Fiscally responsible and socially beneficial, town officials believe this development will benefit the town’s residents in two ways. First, the development of these new manufactured homes will help increase the city’s overall tax base. Secondly, the development of this “off of the rolls” land into a vibrant senior citizen community will reduce the tax burden for the city’s taxpayers, according to New Hampshire Union Leader.
“Allentown’s tax rate is currently $33.86 per $1,000 of assessed valuation, and officials face a challenge in expanding the tax because Bear Brook State Park takes up about half the land in town and is not subject to property taxes. Once the manufactured home community is built, the tax revenue is estimated to be slightly more than $500,000.”
Excited by the win-win situation for those 55 and over, Allenstown officials noted the development would add $29.6 million in new “assessed value” for the town.
Though some from the NIMBY camp have raised “concerns” the project would suffer economic obsolescence – a.k.a. “will there be a need for elderly housing 20 years from now” – others feared greater depreciation because of the “manufactured home” categorizations. Fortunately for all, the planning experts pushed back. Demographic studies provided by the Central New Hampshire Regional Planning Commission showed, “elderly housing will remain constant in the years ahead,” according to Mulholland. And that, “the homes won’t depreciate any faster than a regular residential property would.” Making a strong fact-based declarative statement to effectively shortcut any additional debate, Mulholland concluded the report demonstrates:
“In essence, these properties depreciate at the same value as a stick-built home.”