Affordable Housing, Announcements, Community Development, State News

$7.1 Million in Tax Credits Awarded to Six Affordable Housing Developments

Connecticut Housing Finance Authority
 

The Connecticut Housing Finance Authority (CHFA) approved the award of $7.1 million in tax credits to six affordable housing developers. The funds from the 9 percent federal Low Income Housing Tax Credit (LIHTC) program will be awarded to developments in Meriden, Hartford, Waterford, Waterbury, and West Hartford.  The tax credits will provide funding to build or rehabilitate 320 affordable housing units.

Below is a list of the developments receiving funding:

  • Meriden, 177 State Street

The proposed project will have 75-units of mixed-income family housing, with ground level retail space and a preschool. The property will include 8 supportive units and 60 units targeted for households with incomes of 60% or less of Area Median Income (AMI). In addition, 26 of the 60 units will be supported by project based Section 8. The new building will be within walking distance of Meriden`s new Transit center.

  • Hartford, Willow Creek Apartments

The first phase of this new rental housing for families will replace the uninhabitable units at the 1950s-era Chester A. Bowles Park property. The old units will be demolished and replaced with 62 new units designed to complement the architectural style of the surrounding neighborhood. The units will be targeted for households with incomes of 60% of less of AMI. The site will have several bus stops access to commercial and retail amenities. Redevelopment will also include the construction of a Community Building offering a business center, fitness facility, community space and offices for on-site management.

  •  Waterford, Victoria Gardens

This new construction project will add 90 mixed-income units for persons 55 years and over, with handicap-accessibility throughout the building.  Of the 90 units at Victoria Gardens, 72 will be affordable for households with incomes of 60% or less of AMI, and two units will have a preference for veterans. The development will have 18 units with market-rate rents and 18 supportive units. 

  • Waterbury, Warner Gardens Phase II 

This project involves the demolition of the remaining dilapidated buildings at the old Warner Gardens and replacing them with 64 units of new affordable family housing. The new property will promote income integration with 13 units affordable to households with incomes of 80 to 100% of AMI, as well as 13 supportive units and 16 project-based subsidies. 

  • Waterbury, Cherry Apartments 

A plumbing warehouse will be rehabilitated to create 40 units of family housing. The first floor will include office and recreational space with a community facility will hold a computer lab, office space for a leasing agent/property manager and an on-site service coordinator to provide supportive services for residents. Affordability ranges from eight supportive units for those with incomes of 25% or less of AMI to those with incomes of 80 to 100% of AMI.

  • West Hartford, 616 New Park 

This new construction will include 54 family apartments and some commercial space. The complex will be affordable to those with incomes of 60% or less of AMI, including 11 units of supportive housing and plus 11 units of market-rate housing. The New Park Avenue location provides access to transit and services. The landscape plan includes two bio-retention basins for storm water management.

Click here to read the press release. 
 

 

 

 
 

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