Affordable Housing, Community Development

Sharon Celebrates Completion of Affordable Housing Expansion Project in IHZ

 

One year after breaking ground, the Sharon Housing Authority celebrated the ribbon cutting of 12 newly constructed affordable rental units on its existing Sharon Ridge complex. The one- and two-bedroom units will be targeted to individuals and families earning up to 50% of the Area Median Income, complementing the existing 20 units on site. 

With Sharon at risk of becoming majority-retirees, State Representative Roberta Willis relayed her pleasure that these new affordable housing units will welcome young people to the town and region and support the diversity needed for a vibrant community.

The project was built in the state’s first Incentive Housing Zone (IHZ) - a zoning tool that allows for increased density - creating a financially feasible project that maintained the rural character of the surroundings. The town was awarded a pre-development grant through the Housing for Economic Growth Program (also known as HOMEConnecticut) which it used to investigate the feasibility of the expansion and the creation of the IHZ, as well as to address early community concerns about the project. The project represents a partnership between the state’s Office of Policy and Management and the Department of Housing in addition to the U.S. Department of Agriculture, which provided capital funding and project based rental subsidies that will support residents with a broad range of incomes.

With the population of school age children in Litchfield County expected to decline 20% by 2025, investments in projects like Sharon Ridge help to ensure that the community continues to provide housing opportunities for young families and long-term residents. 

Read about it at the Waterbury Republican American

 

 
 

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