Affordable Housing, Announcements, Community Development, State News

Gov. Malloy Announces $9.5 million in Loans for Small, Affordable Developments

 

Some $9,555,585 in loans has been made available for the creation or rehab of affordable housing units in small multifamily rental and homeownership developments in 10 communities in the state.

The funding, said Evonne Klein, commissioner of the Department of Housing, is intended for smaller projects with development costs of less than $6 million. Some of the recipients include Bishop Place and Seaview Apartments in Bridgeport, Hubbard Woods in Guilford, and Hands on Hartford in Hartford.

Funding dedicated to housing by the Malloy administration now tops $400 million.

“We’ve already accomplished more in the past four years on housing than had been done in decades. The question now is, how do we raise the bar again to have a both short and long-run impact? Investments in safe, affordable housing undoubtedly pay long-term dividends, promoting healthier lives, stronger communities, and a more vibrant economy,” said Gov.Malloy. “This financial assistance – encouraging innovation – is a terrific way to ensure the state is meeting the urgent need for more housing options with unique, well-designed, sustainable, and cost-effective units.”

Click here for the full press release. 

 
 

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