North Branch Construction Completes 30 Affordable Apartments in Wolfeboro

Highlights

• North Branch Construction completed Harriman Hill Phase III in Wolfeboro, New Hampshire.
• The development adds 30 affordable rental apartments on Beck Drive.
• Five units are designated for supportive housing for people with disabilities.
• The project completes a housing development that began nearly 15 years ago.
• The first two phases delivered 48 apartments in 2012 and 2014.

Third Phase Expands Affordable Rental Housing

The completion of 30 affordable rental apartments in Wolfeboro, New Hampshire, advances a multiyear effort to expand housing options for households across a range of income levels. North Branch Construction and Lakes Region Community Developers marked the completion of Harriman Hill Phase III with a ribbon-cutting ceremony on Oct. 21, 2026.

Located on Beck Drive beside the development's first two phases, the new residential phase adds one-, two- and three-bedroom apartments. Five units are designated for supportive housing for people with disabilities.

The latest phase concludes a development effort led by Lakes Region Community Developers and the Eastern Lakes Region Housing Coalition. The earlier phases, completed in 2012 and 2014, provided 48 rental apartments.

Rising Construction Costs Reshaped Development Plans

Predevelopment activities for Phase III began approximately eight years ago. The original proposal called for 20 affordable single-family homes intended for first-time buyers. Rising construction costs during the pandemic made that approach financially unfeasible, leading to a shift toward rental housing.

Financing for the completed development came from TD Bank, NH Housing, Evernorth and the Evernorth Loan Fund, the New Hampshire Community Development Finance Authority, InvestNH, the Beck Fund and Lakes Region Community Developers.

The project team also included Northpoint Engineering, Stewart Associates Architects, Norway Plains & Associates and Sheehan Phinney. The Hodges Companies provides property management services.

Long-Term Housing Development Reaches Completion

Harriman Hill Phase III represents the final stage of a development initiative spanning nearly 15 years. The additional apartments expand the property's total rental housing supply to 78 units across all three phases.

For affordable housing developers and construction stakeholders, the project illustrates how changes in construction costs can affect housing delivery strategies. Shifting from for-sale homes to rental apartments enabled the third phase to proceed with a different residential model, adding affordable units and supportive housing to the local market.

Source: North Branch Construction.