Affordable Housing, Announcements, Community Development, State News

Governor Malloy Announces $29 Million for Housing to Attract Workforce

 

On March 4, 2013, Governor Malloy announced $29 million in funding to be administered by the Dept. of Economic and Community Development (DECD) under the Competitive Housing Assistance for Multifamily Properties (CHAMP) initiative. The $29 million in gap financing will go to nine housing developments and will expand housing opportunities to attract and retain a talented workforce.

Through CHAMP, owners and developers of affordable single and multifamily rental developments were invited to apply to DECD for loans and grants to expand or rehabilitate housing. The projects provided funding through this round will help build or renovate approximately 476 residential units, of which at least 319 will be affordable to income qualifying households.
Below is the list of the developments that received funding:

  • Bridgeport Historic Ventures, Bridgeport- The project will create 70 new units, at least 18 of which will be affordable.
  • Residences at Laurel Hill, Brookfield- The project will create 72 new units which will be available to families making a maximum of 60% of area median income.
  • Beckley House Expansion, Canaan- The project will create 10 units of affordable elderly units.
  • Park Terrace Mutual Housing, Hartford- The project will rehabilitate a 42 unit affordable housing development.
  • Affordable Rental Development/NHS, New Haven- The project will create six three-bedroom units for tenants earning up to 100 percent of the area median income.
  • Torringford West Apartments, Torrington- The project will renovate a 78 unit senior housing development where all the units are affordable for households at or below 60 percent of area median income.
  • The Old Talcott Brothers’ Mill, Vernon- The project will create 83 new units.
  • Loom City Lofts, Vernon- the project will create 68 units where 60 of the units will be for households at or below 60 percent of area median income.
  • The Goodwin, West Hartford- The project will create 47 mixed income family units where 15 of the units will be affordable.

Click here to read the full press release.
 

 
 

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