ISSUE & OPPORTUNITY AREA 3
DOWNTOWN NASHUA
ASSOCIATES INC
Downtown Nashua
DOWNTOWN CONTAINS A DIVERSITY OF
HOUSING TYPES.
Downtown Nashua, like many downtowns within
larger cities, contains a mix of housing types in
buildings ranging from single-family homes to
small infill buildings with 4-9 units to larger
scale multi-family and mixed-use buildings.
The housing choices in the neighborhoods are a
mix of one-, two-, and three-unit structures but
the closer to Main Street you get density of
housing increases. Along Main Street north of
the Nashua River in the area along Amherst
Street there are pockets of buildings containing
anywhere from four to twenty units. The
neighborhood between Hollis and Kinsley
Streets just west of Main Street also offers
several different building types from single
family units to buildings with four to nine units.
There are a handful of buildings in the area that
have fifty units or more, including developments
like Clocktower Place and Lofts 34 along the
Nashua River, Riverfront Landing along the
Merrimack River, and Gatewood Manor along
Will Street.
ASSOCIATES INC
Residential Building Types Source: Nashua Assessor Database
Mine Falls
Park
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Units in Structure
1-Unit @p 21 - 50 Units GD Housing Auth.
2- Units 51-100 Units QQ Nursing Home
EM 3- units GD 101+ units Other
4-9 Units r Mixed-Use
Manu. Homes
GED 10-20units
Downtown Nashua
RENTER HOUSEHOLDS
ARE MORE PREVALENT
DOWNTOWN THAN
ELSEWHERE IN THE CITY.
Percent Renter Households, 2018 source: acs 2018
Nashua River
% Renter Households
0% - 23%
24% - 49%
GD 50% - 74%
GERD 75% - 95%
ASSOCIATES INC
Downtown Nashua
MEDIAN INCOME IN THE
DOWNTOWN IS LOW
COMPARED T0 THE
REST OF THE CITY.
Median Household Income, 2018 | source: acs 2018
Nashua River
are re
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et
ASSOCIATES INC
Median HH Income
GED S0 - $44,000
GED $44,001 -$71,000
GERD 571,001 - $96,500
Downtown Nashua
7
HE HOUSING STOCK IN
DOWNTOWN IS OLDER THAN
E
LSEWHERE IN THE CITY.
Over 62% of all residential
structures in the Downtown area
were constructed prior to 1930, and
73% were constructed prior to 1950.
This means 3 out of every 4
residential structures in this area is
more than 70 years old.
There are 4,300 residential
structures in the selected
Downtown area. Only 300 of those
structures were built after 1979,
which is the standard cut-off year
for the utilization of lead paint
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AS 4 i ye Ue
Year Built
GD = Pre-1930
1931 - 1961
1962 - 1970
1971 - 1983
GED 1984-2019
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Co a ys
ASSOCIATES INC
$161,801 - $183,000
$183,001 - $215,000
GD Over $215,000
$142,001 - $161,800
Assessed Building Value
GED $2,500 - $142,100
Ca
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—
idential Building Assessed Values source: Nashua Assessor Database
Res
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ASSOCIATES INC
Downtown Nashua
NEARLY ALL SALES IN THE
DOWNTOWN AREA ARE BELOW
THE CITY'S MEDIAN.
¢ In 2019, 80% of sales in the Downtown
area were less than the city-wide
median of $321,198
* Over the last 10 years, 93% of sales
were less than that city-wide median
Over the last nine years, single-family
homes sold in the Downtown area have
sold for an average of $218,000 while
multi-family structures sold for an
average of $242,000
The fact that multi-family structures are
not selling for considerably higher
values than single-family may speak to
the condition and age of those
properties and how they have been
maintained over time.
MLS Sales 2010-2019
GED $22,000 - $150,590
$150,591 - $202,400
$202,401 - $243,732
$243,733 - $285,498
GD over $285,498
_ ——
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ASSOCIATES INC
RECOMMENDATIONS
ASSOCIATES INC
ORGANIZATION OF RECOMMENDATIONS
PLANNING FOR SUCCESS
¢ Utilize Master Plan, Land Use Policy, and Zoning to
Address Housing Choice, Affordability, and Location
¢ Continue to Integrate Accessory Dwelling Units
« Leverage Public Land for Housing
« Educate the Public on the Need for and Benefits of
Housing
ALIGNING POLICIES AND HOUSING OUTCOMES
* Create an Affordable Housing Trust
¢ Update Inclusionary Zoning Regulations
« Phase in Rental Registry and Inspection Process
INVEST IN NEW AND EXPANDED HOUSING PROGRAMS
¢ Expand Rental and Owner Rehab Programs
¢ Reintroduce First Time Homebuyer Program
EXPANDING PARNTERSHIPS
Leveraging Capital from Housing Partners
Continue the Partnership with the Housing Authority
Right of First Refusal Policy
Working with Employers to Identify Opportunities to
Partner on Employer Assisted Housing
ASSOCIATES INC
RKG
ASSOCIATES INC
DISCUSSION
HOUSING STUDY FOR THE CITY OF NASHUA, NEW HAMPSHIRE
October 2020
CONTACT INFORMATION:
Eric Halvorsen, AICP
Vice President & Principal
RKG Associates, Inc.
Email: ehalvorsen@rkgassociates.com
Phone: 617-847-8912
