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Revitalizing the State-Sponsored Housing Portfolio

13 April 2015

Dara Kovel, Vice President of Multifamily Housing, Connecticut Housing Finance Authority

On April 21, the Connecticut Housing Finance Authority will be participating in the Partnership for Strong Communities’ IForum – Public Housing Revitalization: Building Communities Together. Click here to learn more. 

With more than 14,000 units at over 300 properties, Connecticut is home to one of the largest, and oldest, state-supported affordable housing portfolios in the nation.  In 2012, Governor Dannel P. Malloy made an unprecedented commitment to revitalize the State-Sponsored Housing Portfolio (SSHP), providing the resources necessary to preserve quality, sustainable housing opportunities in communities across the state. 

We are now in Year 3 of the Governor’s 10-year, $300 million capital investment initiative that is supported by an additional $1.5 million annual increase in appropriations for the state Rental Assistance Payment (RAP) program.

Charged with planning and implementing this investment, Connecticut Department of Housing (DOH) and Connecticut Housing Finance Authority (CHFA) have awarded approximately $80 million in capital funding that has been successfully leveraged into $115 million in total development.  In just two years, the State has strategically allocated RAP subsidies to support  and stabilize over 1,000 existing very low-income households– well ahead of pace to serve 1,500 additional households by 2023.

DOH and CHFA continue to design and administer programs aimed at putting SSHP properties on a trajectory of long-term sustainability.  From technical assistance and resident engagement to predevelopment planning and capital funding, SSHP owners now have access to a wealth of tools and resources that didn’t exist just three years ago.  New funding opportunities that promote energy conservation and transit-oriented development provide owners with additional resources to further shape their revitalization scopes.  

While there is still much work to be done, the State has never been more committed to affordable housing preservation and development. 

Click here to read previous blogs.