Sep 9, 2026 · 20 min · 10 segments
NeighborWorks Southern NH's executive director Robert Tourigny shares more about their latest, and biggest, project in Manchester: The Apartments at Pearl & Orange. Tourigny discusses the partnership…
Now, back in 2021, NeighborWorks and Lansing Melbourne Group responded to the request for proposals from the city.
Since then, the price of real estate, construction, materials, laborers, costs, pretty much everything has escalated at a crazy pace.
It's obviously gone through some iterations over the years, but after COVID, the parking lot was really underutilized.
And so that RFP came out and we responded to say, we can build affordable housing there, but we don't build parking garages and we don't build market rates.
So if you find somebody that wants to do those other components, but not interested in doing the affordable component, we'd be happy to participate.
They brought us together with LMG to come up with a proposal and a concept that worked and met all those needs.
But as you mentioned, the market conditions, construction costs, interest rates, everything just got more prohibitively expensive.
Their portion of the project became less feasible from an economic standpoint.
And so we had to sit down and retool and we asked LMG if we could do more affordable units and if they did less market rate units, would that work? And they said, why don't you do all the affordable units on the Pearl Street lot and we'll focus our market rate project on the Hartnett lot and we'll build the garage that can accompany your project on the Pearl Street lot.
We've been able to come up with a new financing concept to and financing structure to be able to pull together the parking garage and the 126 units of multifamily and eventually a dozen townhomes for sale.
Now, back in 2021, NeighborWorks and Lansing Melbourne Group responded to the request for proposals from the city.
Since then, the price of real estate, construction, materials, laborers, costs, pretty much everything has escalated at a crazy pace.
It's obviously gone through some iterations over the years, but after COVID, the parking lot was really underutilized.
And so that RFP came out and we responded to say, we can build affordable housing there, but we don't build parking garages and we don't build market rates.
So if you find somebody that wants to do those other components, but not interested in doing the affordable component, we'd be happy to participate.
They brought us together with LMG to come up with a proposal and a concept that worked and met all those needs.
But as you mentioned, the market conditions, construction costs, interest rates, everything just got more prohibitively expensive.
Their portion of the project became less feasible from an economic standpoint.
And so we had to sit down and retool and we asked LMG if we could do more affordable units and if they did less market rate units, would that work? And they said, why don't you do all the affordable units on the Pearl Street lot and we'll focus our market rate project on the Hartnett lot and we'll build the garage that can accompany your project on the Pearl Street lot.
We've been able to come up with a new financing concept to and financing structure to be able to pull together the parking garage and the 126 units of multifamily and eventually a dozen townhomes for sale.
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