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November 27, 2023

91-unit affordable housing development approved in Farmington

Contributed Metro Realty Group, which specializes in affordable housing projects, plans to build 33 one-bedroom and 58 two-bedroom apartments across 12 buildings at 8562 New Britain Ave. in Farmington.
By Andrew Larson

A prominent developer has received zoning approval for a 91-unit mixed-income apartment complex on New Britain Avenue in Farmington.

Metro Realty Group, which specializes in affordable housing projects, will build 33 one-bedroom and 58 two-bedroom apartments across 12 buildings at 8562 New Britain Ave., according to plans submitted to the town. 

The 9-acre site is near Route 6 and is across from the office building of digital marketing firm Primacy.

Metro Realty is seeking tax credits that would result in a breakdown of 80% income-restricted units and 20% market rate, said Kyle Richards, executive vice president at Metro Realty, during a Nov. 6 public hearing. 

That would result in 73 units having their rent capped at affordable levels set by the state, with 18 units being market rate.

All 91 units will count toward the town's 10% affordable housing goal. Currently, 8.17% of the town's housing stock is considered affordable.

At a recent infrastructure summit held at Hartford's Society Room, Geoffrey Sager, president of Metro Realty, applauded new state incentives through the Connecticut Housing Finance Authority and Department of Housing that help developers secure financing for affordable housing projects.

Metro Realty recently received approval for a similar 88-unit project in Berlin.

"There's big demand for market-rate housing, and there's an insatiable demand for affordable housing," Sager said.

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