News: Northern New England

Red Oak Apartment Homes to complete 124-unit Ridge at Eastern Trails project

Milford, NH The tight rental market in southern N.H. is about to get a boost as Red Oak Apartment Homes completes the Ridge at Eastern Trails project. The project includes 124 units in apartment buildings and townhouses and represents the largest new residential construction project in Milford in two decades. 

Phase I includes two buildings with 72 apartments, many of which were available starting August 15. As one of the largest residential property management companies in the state, Red Oak does not require security deposits, offers flexible, fixed-cost leases from six to 23 months in duration, and will be offering two $10,000 giveaways to residents of the first two buildings once the units have been rented.

Amenities include stainless steel Energy Star kitchen appliances, full-size washers and dryers, upgraded flooring and countertops, central heat and air conditioning, and elevators. The studio, one, two and three-bedroom apartments range in size from 520 s/f to 1,360 s/f. The two and three-bedroom apartments have two full baths and breakfast bars, and all of the apartments are pet friendly for cats and dogs up to 25 pounds. 

The location features a dog park, tennis courts, a playground and sidewalks, and residents can use the outdoor pool located at a sister property five minutes away. 

“We are confident these new residential options will be very attractive to those looking to rent in the Milford area, enjoy higher end amenities and the flexibility we offer to our residents in terms of variable lease lengths and no security deposits,” said Ronald Dupont, president of Red Oak. “Red Oak chose Milford for our first housing construction project because we wanted to invest in the region and design and build housing with the types of amenities that will attract people who also want to call Milford home.” 

The project, which is being managed by Eckman Construction, will include 128,000 s/f of total construction. It is being completed in two phases and will include 108 apartment units and 16  two and three-bedroom townhouses. The project architect is Dennis Mires, PA, from The Architects of Manchester and the civil engineer is Keach-Nordstrom Associates of Bedford.

MORE FROM Northern New England
Northern New England

November 2024 NH CIBOR president’s message: 10 tips for commercial real estate investors - by Ethan Ash

While many Realtors will tell you what you need to do in order to sell your residential property at the highest price (clean out the junk, update bathrooms and kitchens, paint, etc.) most people don’t get easy to follow guidance on what to do to help your commercial real estate sale. Other than that advice that I
READ ON THE GO
DIGITAL EDITIONS
Subscribe
Columns and Thought Leadership
Maine multifamily outlook: Opportunities in Portland, Bangor, and Lewiston-Auburn - Blake Wright and Kristie Russell

Maine multifamily outlook: Opportunities in Portland, Bangor, and Lewiston-Auburn - Blake Wright and Kristie Russell

The multifamily market in Maine’s major cities presents a diverse range of opportunities for investors. We looked at the potential benefits and unique characteristics of three major submarkets in the state: Portland, Bangor, and Lewiston-Auburn. The information below is based on research done in CoStar and county registries, and focuses on multifamily properties that have four or more units. 

Residential is here to untie the office space doom loop - by Thomas House

Residential is here to untie the office space doom loop - by Thomas House

The glut of unused (and to the owners, undervalued) office space because of the advent of work from home is in the process of becoming homes themselves. Though this is an officially supported trend in Boston and other northeast locations, the conversion
The Greater Portland industrial mid-year market update - by Nate Roop

The Greater Portland industrial mid-year market update - by Nate Roop

The industrial market in Maine remains robust, characterized by historically low vacancy rates. As of early 2024, the vacancy rate across the state is below 2%, indicating a continued imbalance between supply and demand. This tight market environment has kept lease rates strong, with many landlords in a favorable position. Asking rates are trending around $10.50 per s/f for
Interest rates and inflation - by Matthew Bacon

Interest rates and inflation - by Matthew Bacon

As we all know, interest rates have been changing drastically, with movement in both directions, depending on the type and term of financing. The Federal Open Market Committee has taken drastic action in efforts to curb abnormally high inflation, but it hasn’t controlled labor cost growth to the extent that was intended.