Affordable Housing, Announcements, Community Development, State News

Governor Announces Over $70 Million for Affordable Apartments

 

Sixteen affordable housing projects across the state will receive over $70 million in federal and state funds to build a total of 694 affordable rental apartments. Governor Malloy, Department of Housing Commissioner Evonne Klein, and Connecticut Housing Finance Authority President and Executive Director Eric Chatman made the announcement on April 11 which is expected to bring in an additional $116 million in private investments for the projects.

These projects will be receiving funding through the federal Nine Percent Low Income Housing Tax Credits (9% LIHTCs) funding round and the fourth round of the state’s Competitive Housing Assistance for Multifamily Properties (CHAMP) initiative.  Investments include $7.7 million in federal tax credits under the 9% LIHTCs program and $62.4 in state capital funding.

“Development activity from the investments the Governor made today totals more than $226 million,” said Klein, who is also chair of CHFA’s Board of Directors. “That’s the power of public-private partnerships.  Innovative collaborations among nonprofit groups, developers, and government are bringing more resources and skills to bear on the issue of affordable housing.”

The projects receiving 9% LIHTC allocations will create an estimated 1,319 jobs, generate $186.9 million in economic activity, and $14.4 million in net state revenue. They are:

  • 24 Colony Street, Meriden – Westmount Development Group
  • Wall Street Place, Phase I, Norwalk – POKO IWSR Developers, LLC
  • Washington Village, Phase One, Norwalk – Trinity Washington Village Phase One Ltd Partnership
  • Lawnhill Terrace, Stamford – Rippowam Corporation
  • Warner Gardens, Waterbury – Omni Development Corporation
  • Carroll Apartments, Waterbury – HF3 Group, LLC

The CHAMP 4 recipients will provide for the creation or preservation of a total of 537 units, 400 of them affordable. They include:

  • Maplewood Court, Bridgeport — Mutual Housing of Southwest Connecticut
  • McLevy Square, Bridgeport — Forstone Capital
  • Access Supportive Housing, Danielson — Access Agency
  • Heritage Glen, Farmington — Metro Realty Group
  • 258 Davis Ave, Greenwich — Pathways, Inc.
  • 390 Capitol Ave, Hartford — Dakota Partners
  • Sheldon Wyllys, Hartford — Sheldon Oak Central
  • Kensington Square I, New Haven — The Community Builders
  • 38 Columbus St, Seymour – Migani O’Reardon Architects
  • Button Hill, Willington — Willington Housing Authority

More details about the specific developments are available in the full press release here

 
 

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