Press Releases
05/07/2017
Gov. Malloy Announces $10.7 Million to Support the Development of Affordable Housing in Six Connecticut Communities
Funds Support Development of Affordable Housing in Bridgeport, Hartford, Meriden, New Britain, New Haven, and Windsor Locks
(HARTFORD, CT) – Governor Dannel P. Malloy, Connecticut Department of Housing (DOH) Commissioner Evonne M. Klein, and Connecticut Housing Finance Authority (CHFA) Executive Director Karl Kilduff today announced that nearly $10.7 million in funding has been approved by the CHFA Board of Directors to support the development of seven affordable housing projects in six Connecticut communities. Funding comes through federal Low Income Housing Tax Credits (LIHTC) program, which is administered by CHFA.
The multifamily housing developments will create a total of 578 rental units, with 401 designated as affordable and 177 as market rate. The properties are projected to generate 964 jobs, $333.5 million in economic activity, and $18.92 million in net state revenue.
“Leveraging federal tax credits with other public and private funding will not only provide much-needed affordable housing for Connecticut residents, the construction and other work involved in bringing these new units online will generate jobs and economic activity in the state,” Governor Malloy noted.
This year marks the 30th year of the LIHTC program. As one of the oldest public-private partnerships, it has a long track record of success, delivering thousands of units of affordable housing.
By selling their tax credits to investors, developers can obtain equity financing to acquire, rehabilitate, and construct new low or moderate-income housing. Applications are reviewed and scored based on the state’s Qualified Allocation Plan which reflects the state’s housing priorities including rental affordability, financial efficiency and sustainability, municipality commitment and impact, opportunity characteristics, and development team qualification and experience.
“With a limited number of credits available, the LIHTC application process is competitive,” Commissioner Klein explained. “We are pleased that the majority of the units – 475 of them – are new, increasing the inventory of affordable housing, and 103 units are replacement for units taken out of service. It’s also important to note that these are units for families, with 65 percent of the units having two or more bedrooms. Additionally, six of the seven developments will include supportive services for residents identified as homeless, chronically homeless, imminently homeless, or at-risk of homelessness. Supportive services bring stability to peoples’ lives and save money by reducing visits to hospital emergency rooms and other more costly services.”
“Having a safe, affordable home can transform peoples’ lives,” Kilduff said. “Since 2011, CHFA and the Department of Housing have partnered to complete about 14,500 units of affordable housing with more than 6,500 units currently under construction.”
The developments receiving the awards today include:
- Bridgeport, Windward Apartments: The first phase of this new rental housing is the redevelopment of the Marina Village public housing complex. This new construction project will have a total of 60 units: 48 units of housing for households with incomes up to 60 percent of Area Median Income (AMI), including 15 project-based Section 8 rental subsidies, 12 supportive units and 12 market rate units. Windward Apartments is a transit-oriented development, within walking distance of retail facilities and several bus stops, including one that leads to Bridgeport’s main transportation hub.
- Hartford, Willow Creek Phase II: Willow Creek is the second redevelopment phase of Bowles Park. The property will consist of 43 new units: 38 units for households with incomes up to 60 percent of AMI, with eleven units of project-based Section 8 rental subsidies, nine supportive units for homeless individuals and families with special needs, and five market-rate units. The site is within walking distance of schools, retail establishments and neighborhood recreation centers.
- Meriden, 11 Crown Street: This new construction project is the redevelopment of the former Record-Journal building into family housing. It will create 81 units, 64 for households with incomes up to 60 percent of AMI, including 20 units with project-based Section 8 rental vouchers. There will be 17 units with supportive services for homeless individuals and special needs families. Eleven Crown Street is a transit-oriented development, located near the new high-speed rail station and within walking distance of commercial facilities, a community college and a public library.
- Meriden, Meriden Commons Phase II: Meriden Commons is a mixed-income, mixed-use development to be built on vacant site in downtown Meriden. Of the 76 new units, 60 of them will for households with incomes of up to 60 percent of AMI, including 26 project-based Section 8 rental subsidies, and 16 market rate units. The property will have 26 units as replacement housing for former Mills Memorial tenants, and eight supportive housing units. Another transit-oriented development, Meriden Commons is one-third of a mile from Meriden’s transit center.
- New Britain, Columbus Commons Phase I: This new construction project in New Britain’s central business district will include 80 family apartments, a playground and commercial space. The complex will include 64 units for households with incomes of up to 60 percent of AMI, including 16 supportive units, and 16 market rate units. Columbus Commons is a transit-oriented development located across the street from CTfastrak, and is walkable to retail and municipal services.
- New Haven, Rockview Phase 2: The second phase of Rockview will have 78 new rental units; a mix of 25 duplexes and town-house style buildings with two, three, and four-bedroom units. The property will have 62 units for households with incomes of up to 60 percent of AMI and 16 market rate units. The site is on a bus route allowing access to commercial and retail services. Residents will have access to supportive services from West Rock community across the street, as well as a nearby state park. This development is part of the ongoing West Rock Revitalization Program.
- Windsor Locks, Montgomery Mill: This adaptive re-use of an historic industrial mill located between Windsor Locks Canal and the Connecticut River will have 160 units. There will be 65 units for households with incomes up to 60 percent of AMI and 95 market rate units. The site is within walking distance of a public library and retail facilities. Residents will enjoy the four-mile park and trail that runs between the canal and river. A commuter rail station is planned across the canal from the building.
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