FOR IMMEDIATE RELEASE: July 14, 2023
CONTACT: Lisa Patlis, (802) 861-3814
[Keene, NH] Evernorth Rural Ventures, a subsidiary of Evernorth, is pleased to announce the closing of a $7.1 million New Markets Tax Credit (NMTC) investment to construct a 15,180 square foot, modern, 48-bed emergency shelter and resource center in Keene, New Hampshire. The new facility, is nearing completion and will allow the nonprofit Hundred Nights, Inc. (HN) to centralize, consolidate, and increase their shelter and resource center to better serve low-income individuals and families experiencing or at risk of homelessness.
Hundred Nights, Inc. is a year-round emergency shelter and resource center provider that helps individuals and families in Cheshire County become independent, self-sufficient, and in a better position to secure affordable permanent housing. In 2022, the agency provided 13,280 bed-nights of shelter to 259 unique shelter guests including 14 Veterans, 27 children under age 18, 26 youth between ages 18 and 24, and 29 seniors over the age of 55. An additional 296 unique visitors utilized the resource center, which operates daily to serve the community with a variety of services, programs, and basic needs.
Located at 122 Water Street, the shelter and resource center services will be housed all under one roof and within walking distance of key partners and services. The new design includes expanded resource center space; women’s dormitories; men’s dormitories; private rooms to accommodate families; public restrooms and showers; a commercial kitchen to offer meals; and a courtyard and gardens.
“The new facility will allow us to provide safer, more appropriate and adequate emergency shelter and wraparound services to men, women, and children in southwestern New Hampshire who come to us from all types of backgrounds and with a wide range of needs,” says Mindy Cambiar, Executive Director of Hundred Nights. “Receiving the New Markets Tax Credit financing allows us to accomplish everything that’s needed in the new building to help us better serve our community.”
The site of the new shelter and resource center on Water Street is in a redeveloped complex that has become a vital economic component for downtown Keene. The Southwest Region Planning Commission, Monadnock Economic Development Corporation, and the city of Keene worked together to clean up and develop the land through the downtown Keene Railroad Land Development Project. Over $40 million has been invested in redevelopment of the Rail Land Development Project, including Evernorth Rural Ventures’ investment to expand the Monadnock Food Co-Op.
Hundred Nights sourced $7.1 million to construct the new facility and cover the expenses of the NMTC transaction. Funding sources are comprised of Evernorth Rural Ventures’ NMTC equity through TD Bank, HN’s capital campaign, Massachusetts Housing Investment Corp (MHIC), the New Hampshire Community Loan Fund, the New Hampshire Charitable Foundation, New Hampshire Community Development Finance Authority’s Tax Credit Program, HUD’s Community Development Block Grant Program, and the State of New Hampshire. Evernorth Rural Ventures’ below market NMTC financing filled a critical gap to make the new shelter and resource center viable. DEW Construction is the general contractor.
“Hundred Nights is an important asset of the community and Evernorth Rural Ventures is proud to be a partner in the emergency shelter and resource center,” says Beth Boutin, Vice President of Evernorth Rural Ventures. “We are pleased to bring our New Markets Tax Credit resource to not only safely support more families and individuals experiencing homelessness in Keene but to also create a permanent home for the important work of Hundred Nights, the organization.” Boutin continued, “Evernorth is pleased to use our NMTC resource as a vehicle to bring more housing options to the communities we serve.”
Construction began in May of 2022 and the new emergency shelter and resource center is expected to open and begin accepting guests in the next few weeks.
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Evernorth Rural Ventures, a subsidiary of Evernorth, is a qualified Community Development Entity (CDE) that uses its New Markets Tax Credit (NMTC) resources to support investment in the economic, environmental, and social well-being of northern New England communities and its regional economies. NMTC funds are used to retain and create quality jobs and essential goods and services by financing key community developments in downtown and village centers and in other concerted community efforts that demonstrate positive impacts to low income persons and communities.Learn more at www.evernorthUS.org/evernorth-rural-ventures.
Hundred Nights, Inc. provides low-barrier, year-round emergency shelter and supportive services to individuals and families experiencing or at risk of homelessness in Cheshire County, New Hampshire.
Photo courtesy of Keene Sentinal.