A project that plans to build housing for senior citizens in New Hampshire has received $1.6 million in funding.

The mix of grants, loans and interest rate subsidies from the Federal Home Loan Bank of Boston will go to the Sunrise House project in downtown Laconia which is being sponsored by Laconia Housing. The monies will go to help fund the 16-unit, fully-accessible development.

The executive director of Laconia Housing, Richard Weaver, said the goal of the project is to make a significant investment in the heart of downtown and offer housing that compliments the services provided by Sunrise Towers. Weaver also said the project will allow seniors an "opportunity to live a fulfilling life near services" in the state.

New Hampshire's senior population is expected to double by 2025.