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Gov. Ned Lamont on Tuesday announced $36.5 million in grants for eight economic development projects, including $5.5 million to help build 57 apartments in Hartford and $5.3 million to help transform a blighted factory in Torrington into a marketplace and offices.
“We created this grant program as a component of our efforts to spur economic growth and the creation of new jobs as we emerge from the COVID-19 pandemic,” Lamont said. “Each of these approved state grants are going toward projects that improve the livability and quality of life in communities and will make these neighborhoods even more attractive for private investments and opportunities for residents.”
This latest round of Connecticut Communities Challenge grants will leverage approximately $143.5 million worth of investment from other sources for projects that fit the state program’s goals of supporting livability, vibrancy and equity.
The $100 million grant program aims to create approximately 3,000 jobs and is a pillar of Lamont’s statewide economic development strategy. The state aims to allocate about half of funding to projects in distressed municipalities.
The first round of challenge grants, announced in April, saw $45 million allocated to 12 projects.
This latest round includes:
Half of the units will be allocated as affordable, for families making less than 80% of area median income.
Additional organizations, including the Meriden-New Britain-Berlin YMCA, Kensington Volunteer Fire Department, Berlin Board of Education, Cromwell Board of Education and Berlin Land Trust are working to provide pedestrian access and open space walking trails nearby.
Newport Realty principals Mark Lovley and Anthony Valenti have already completed a 16-unit apartment building with first-floor restaurant space as part of the ongoing Steele Center development, which will contain 60 apartments and more than 80,000 square feet of commercial space in several buildings.
The project is located near one of the state-run CTfastrak bus stations.
The site is slated for development of 180 apartments and 7,320 square feet of commercial space under affordable housing developer Pennrose LLC.
This project is within a quarter-mile of a CTfastrak station. Lakhotia paid $1.6 million for the building and a nearby quarter-acre paved lot in February.
Project partners include the city, private developers, YMCA, Water Street Healthcare Group LLC and Naugatuck Railroad.
The improvements include stormwater relocation, pedestrian safety improvements, along with park and public space upgrades.
Groton is partnering with its housing authority and Rogers Development LLC in these projects, which will also deliver various infrastructure improvements, including bikeways, a pedestrian bridge and new public recreation space.
“These projects will bring foot traffic, mixed-use environments and a significant number of new housing units to eight Connecticut communities,” DECD Deputy Commissioner Alexandra Daum said. “These investments are focused on infill opportunities in downtown and main street areas with existing centers of development and activity. In addition to increasing the livability of our communities, stimulating transit-oriented development is another key goal of this program. Many of the awards under this second round will go to projects located within a quick walk from transit options, helping to get Connecticut residents off the roads and onto our excellent transit system.”
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Read HereThis special edition informs and connects businesses with nonprofit organizations that are aligned with what they care about. Each nonprofit profile provides a crisp snapshot of the organization’s mission, goals, area of service, giving and volunteer opportunities and board leadership.
Hartford Business Journal provides the top coverage of news, trends, data, politics and personalities of the area’s business community. Get the news and information you need from the award-winning writers at HBJ. Don’t miss out - subscribe today.
Delivering Vital Marketplace Content and Context to Senior Decision Makers Throughout Greater Hartford and the State ... All Year Long!
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