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Applications will soon open for the $100m InvestNH housing fund

Flanked by the mayors of Rochester, Keene and Concord, and Commissioner Taylor Caswell, and others, Governor Sununu spoke outside the new offices of the State Department of Business and Economic Affairs to announce the opening of the program which uses federal dollars from the American Rescue Plan Act to meet one of the state’s most critical needs: more workforce housing to help support businesses that need more workers. Photo/Paula Tracy


CONCORD, NH – Saying it will produce thousands of new low-to-moderate income housing units in the state in the coming months, Gov. Chris Sununu, three-city mayors and developers gathered in Concord to announce demands for a $100 million affordable housing fund. to start this month online.

The InvestNH Housing Fund has a website that went live on Tuesday and applications for about half of that money will be accepted as early as next Monday.

Accompanied by the mayors of Rochester, Keene and Concord, Sununu gathered at the new offices of the State Department of Business and Economic Affairs to announce the opening of the program which uses federal dollars from the American Rescue Plan Act to meet one of the state’s most critical needs: more workforce housing to help support businesses that need more workers.

Commissioner Taylor Caswell said the percentage of two-bedroom rentals available in the state is less than 1% and considered unhealthy from a business perspective.

Sununu’s $100 million InvestNH Housing Fund offers funds for developers, for-profits and nonprofits, and small landlords who may wish to take an existing single-unit home and make it into multiple units.

It will cover essential costs and help cover some of the inflationary impacts the governor said developers are currently facing. There is also money for municipalities to demolish old structures in their communities and improve zoning laws.

The InvestNH Capital Grant Program will open at www.Invest603.com and will include $60 million in incremental funding for construction and core costs for developers.

Other programs will begin accepting applications July 29 and include planning and zoning grants for municipalities and demolition grants that will help defray the costs of demolishing unstable buildings.

There is a “wide universe” of projects that will compete for funds and there will only be one round so the state can see what all the proposals are at once.

The hope is that it will be spread out, with funding going to each county, but that, Sununu said, will depend on who applies.

By September, he said the state will likely have chosen which projects to approve and will go to the Executive Council for final approval of grant applications.

Sununu said he was happy to see this innovative idea he had gain legislative support and to be able to meet in months, rather than years.

There will be a webinar on July 7 and it will be recorded and on the website to help answer questions from potential applicants. More information here: www.Invest603.com. Sununu predicted that the money will go fast and go a long way in alleviating the housing crisis the state is currently facing.

For more information or questions, email [email protected]