🔒CT Housing Dept. offers millions in grants, loans to 9 housing developments around state

The Connecticut Department of Housing and the state’s Housing Finance Authority have signed financing agreements for nine developments around Connecticut, including a large number of affordable housing units. Officials say combined, the projects will contribute to the creation or preservation of 478 housing units, with 336 of those being affordable for low- and moderate-income renters. In addition, 57 will be designated as permanent supportive housing. The affordable units will be earmarked for residents making up to 80% of the area median income. The developments are located in Berlin, Goshen, Meriden, New Haven, Norwalk, Rocky Hill, Terryville, Stamford, and Willimantic. The Department of Housing is providing over $32 million in loans and grants, and CHFA is providing low-income housing tax credits that it says will generate more than $55 million in private investment along with $9.1 million in first mortgage financing. “These investments reflect our values and commitment to providing housing our residents can afford, at all incomes levels, and different stages of life,” said Seila Mosquera-Bruno, Connecticut Housing Commissioner. “We’re excited about these projects and look forward to seeing these homes occupied with Connecticut families.” The projects that are receiving funding include: Steele Center (Berlin) This development will feature 52 multifamily apartments, offering a mix of studio, one-bedroom, and two-bedroom layouts. Through the Build For CT program, CHFA is providing a $2 million loan to a development that will include 16 apartments that are affordable to households earning between 60-80% area median income (AMI). Goshen Village Housing (Goshen) Located at 59 Torrington Road in Goshen, this development will rehabilitate 18 residential apartments across four buildings, offering studio, one-, and two-bedroom layouts. Seventeen of the units will be made affordable to households earning at or below 80% AMI. Renovations include upgraded insulation, high-efficiency heat pumps, new flooring, and fully updated kitchens and bathrooms. The development is being supported by $2.1 million in FLEX funding from DOH and $500,000 in proceeds from CHFA’s Housing Tax Credit Contribution program. Colony Street (Meriden) Colony Street involves the rehabilitation of five existing buildings, transforming them into 69 residential apartments and 12 ground-level commercial units. Funded by a $2.375 million loan from CHFA through the Build For CT program, Colony Street will include 19 apartments that are affordable to households earning between 60-80% AMI. Brewery Square Apartments (New Haven) Brewery Square Apartments will undergo substantial rehabilitation, preserving 104 affordable and market-rate homes for families. Supported by $13 million in federal 4% LIHTC equity through CHFA, the development will also leverage federal and state historic tax credits. Of the 104 units, 84 will be restricted for households earning at or below 80% AMI, and the remaining units will be unrestricted. Meadow Gardens (Norwalk) Meadow Gardens in Norwalk will bring 59 newly constructed affordable homes to families, with half of the units supported by project-based Section 8 assistance. The development is supported by $21.5 million in proceeds from 4% LIHTC equity through CHFA as well as $5.9 million in DOH financing. Thirty homes will be for residents at or below 30% AMI. Rocky Hill Seniors (Rocky Hill) The Rocky Hill Housing Authority is undertaking critical upgrades to its 40-unit senior housing community, part of the State Sponsored Housing Portfolio. Improvements include new roofs, energy-efficient windows, vinyl siding and storage doors, along with added accessible parking, EV charging stations, and sidewalk and paving work. The work is being supported by grants from DOH totaling approximately $5.1 million. All 40 units are made affordable to renters earning at or below 50% AMI. Oak Woods (Terryville) Oak Woods Apartments will include 47 newly constructed affordable homes in the Terryville section of Plymouth, a town with less than 10% affordable housing. Twelve units will serve families experiencing homelessness. The site includes a management office, community room, and computer area, with nearby access to groceries, a pharmacy, and recreational amenities. In addition to $6.3 million in funding from DOH, the development is being supported by CHFA through 9% LIHTCs that will generate over $12.5 million as well as $3.4 million in financing. Rotary Commons (Stamford) Pacific House Inc. will build 39 units of permanent supportive housing for individuals and families exiting homelessness, plus 6,600 square feet of office space. The all-electric building will include solar panels, heat pumps, EV charging, laundry, a community room, and enhanced security. The development is supported by CHFA through a 4% LIHTC allocation that will attract $8.7 million in private investment as well as $5.75 million in financing, and an additional $5.5 million in financing from DOH and DECD. Father Honan Terrace (Willimantic) The Willimantic Housing Authority, in partnership with its nonprofit affiliate, Willimantic Development Corp., is planning a comprehensive rehabilitation of Father Honan Terrace, a 50-unit elderly housing community in the State Sponsored Housing Portfolio. Located in six buildings on Valley Street Extension, the rehab will be supported by $7 million in DOH grants and $316,687 in proceeds from CHFA’s Housing Tax Credit Contribution program. All 50 units are made affordable to renters earning at or below 50% AMI.