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March 21, 2024

Bridgeport, Vernon housing projects to share $20M in state funding

Contributed The planned apartment at Steelpointe Harbor in Bridgeport.
By Hanna Snyder Gambini

State agencies have committed more than $20 million in loans for three major housing developments that include affordable units in Bridgeport and Vernon.

The Connecticut Department of Housing and Connecticut Housing Finance Authority this week announced they have signed financing agreements and construction is ready to start on projects that will create 139 new housing units, including 116 affordable units for low- and moderate-income renters. 

For all three projects, DOH is providing $13.8 million in loans and CHFA is providing an additional $7.8 million in financing as well as low-income housing tax credits and state housing tax credits that will generate more than $18.5 million in private investment, state officials said. 

The funding will go toward phase 1C of the Crescent Crossing project in Bridgeport, which is the redevelopment of the former Father Panik Village Public Housing site and replacement of Marina Village, which was demolished following damage from Hurricane Sandy.  
The work will include construction of 85 new units, of which 62 will be affordable to households earning at or below 60% of the area median income, and 17 units will be set aside for individuals and families experiencing homelessness. 

Another project is Grove Court in Vernon, a Vernon Housing Authority property that is part of the state-sponsored housing portfolio. The seven-building, 54-unit senior housing community will get $6.8 million in grant funding from DOH for site-work improvements, extensive repair or replacement of roofs and siding, and upgrades to interior and exterior lighting, flooring, kitchens, and bathrooms.

Through the state’s new Build For CT program, CHFA is providing a $20 million loan to support the construction of 160 units within The Steelpointe Harbor apartment complex in Bridgeport that will be designated affordable to middle-income renters earning between 80% to 120% of the area median income. The housing component is part of a massive mixed-use redevelopment along Bridgeport’s waterfront. The entire project will bring 420 units and 10,000 square feet of commercial space to the city. 
 
 

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