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Affordable Housing , Announcements , State News

State Announces Funding Awards for Affordable Housing Development

27 March 2015
Office of Governor Malloy

On March 26, Gov. Malloy and Department of Housing (DOH) Commissioner and Connecticut Housing Finance Authority (CHFA) Board Chairman Klein announced the award of over $60 million in state funding to build and rehabilitate 851 affordable units and 246 market-rate units in 14 projects throughout the state. The projects announced were awarded funding through the state Competitive Housing Assistance for Multifamily Properties (CHAMP) initiative or the federal 9% Low Income Housing Tax Credit (LIHTC) program. 

CHAMP is administered by DOH while the state’s LIHTC allocation is administered by CHFA. In addition to the $60 million in state capital funding provided by DOH, additional resources for the 14 projects include $84.6 million in projected equity through federal 4% and 9% LIHTC credits and an additional $19.4 million made available by CHFA through tax exempt bond financing.

Developments funded by CHAMP in this round:

  • Brookfield Village, Brookfield 
  • Essex Place, Essex 
  • Norfolk Town Center, Norfolk  
  • The Lofts at Ponemah Mills, Norwich 
  • Metro Green 3, Stamford 
  • Westfield Heights, Wethersfield  
  • Brown Building, Waterbury 
  • Schoolhouse Apartments, Waterbury 

Developments funded by 9% LIHTCs in this round:

  • 515 West Avenue, Bridgeport
  • Avery Park Revitalization, Stafford 
  • Crescent Crossing Phase 1B, Bridgeport 
  • East Street Apartments, New Milford 
  • The Mill at Killingly Apartments, Killingly 
  • Spruce Ridge/Meadows, Pawcatuck 

Click here to read the press release which includes more detailed information about the developments funded.