November 20, 2018

CT awards $22M for affordable housing

PHOTO | Contributed
PHOTO | Contributed
The Squire Village in East Hartford, an affordable housing complex, has 379 units.

Connecticut has awarded almost $22 million to create more than 700 units of affordable housing in Hartford, New Haven and Waterbury, authorities say.

The state Department of Housing (DOH) and the governor announced Tuesday the latest funding round to build or renovate 702 mixed-income housing units under DOH's Competitive Housing Assistance for Multifamily Properties program (CHAMP).

CHAMP provides developers and owners of multifamily affordable housing the necessary gap financing to create more affordable units in their developments.

The following housing developments and developers will share in the latest funding round:

Hartford: 316 On the Park and Terrace II, 89 units ($2.7 million): DOH will provide a loan up to $2.7 million to the Mutual Housing Association of Greater Hartford Inc. to assist in the moderate rehabilitation of an existing 13-building development in the Frog Hollow neighborhood. The project consists of 68 affordable residential units that will be rehabilitated, and an additional 21 affordable units that will be created, for a total of 89.

New Haven: Farnam Courts Phase 2A, 45 units ($3.8 million): DOH will provide a loan up to $3.8 million to the Glendower Group Inc., a unit of the New Haven Housing Authority, to assist in the new construction of four buildings on a currently vacant site, containing 45 residential units -- 36 affordable and nine market-rate units. The affordable units will serve low-income households with incomes not exceeding 25 percent, 50 percent, and 60 percent of the area-median income and will provide two, three, and four bedroom units. This project is part of a four-phased redevelopment of Farnam Courts public housing in New Haven. The first two phases have been completed.

New Haven: Hill-to-Downtown: 49 Prince Street, 30 units ($2.7 million): DOH will loan approximately $2.7 million to RMS Downtown South-Hill North Development Co. LLC to assist in the adaptive reuse of the former Welch Annex School into 30 affordable units within walking distance of Yale-New Haven Hospital. The development will serve households with incomes at 25 percent, 50 percent, and 60 percent of the area-median income and will include studio, one bedroom, and two-bedroom units.

New Haven: Ruoppolo Manor and Fairmont Heights, 201 units ($3.7 million): DOH will provide a loan of approximately $3.7 million to the Glendower Group Inc. to assist in the rehabilitation of three buildings comprising 201 affordable units. The development is 100 percent affordable and will serve senior and disabled resident households with incomes at 30 percent, 50 percent, and 80 percent of area-median income.

Waterbury: Enterprise Apartments and Abbot Towers, 187 units ($4.7 million): DOH will provide a loan of approximately $4.7 million to Enterprise Abbot L.P. to rehabilitate two buildings comprising 187 affordable units. The project will serve households with incomes at 25 percent, 50 percent, and 60 percent of area-median income. Both sites are approximately one-quarter mile from downtown Waterbury and include mass transit opportunities, the expanded UConn- Waterbury campus, and the Palace Theater.

Waterbury: Exchange Place Tower, 150 units ($4 million): DOH will provide a loan of approximately $4 million to Cornerstone-Bayview, Inc./NHPF, an affiliate of the NHP Foundation, to assist in the rehabilitation and preservation of Exchange Place Tower in downtown Waterbury. The development, which contains ground-floor retail commercial space, consists of 150 units that will be affordable to residents with incomes at 25 percent, 50 percent, and 60 percent of the area-median income.

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