The developments are in Ansonia, East Hartford, Fairfield, New Britain, Rocky Hill, Stratford and West Hartford. Two more are in Stamford.
HARTFORD, Conn — Nine developments across Connecticut will receive considerable state financing, leading to the creation of 658 housing units in eight towns and cities.
The state’s Department of Housing and the Connecticut Housing Finance Authority announced on Thursday that they have signed financing agreements for the nine developments. Of the 658 housing units, 381 will be affordable for low- and moderate-income renters. Ten will be designed as permanent supportive housing.
The developments are in Ansonia, East Hartford, Fairfield, New Britain, Rocky Hill, Stratford and West Hartford. Two more can be found in Stamford.
DOH will provide over $21.8 million in loans and grants, while the CHFA will give low-income housing tax credits that will generate more than $55 million in private investment alongside $61.5 million in first mortgage financing. The affordable housing units will be earmarked for residents who make up to 80% of the area median income.
The CHFA also signed financing agreements worth $4.37 million for 143 units to be funded by the Build for CT program, which is a partnership between the CHFA and DOH in support of the creation of apartments meant to be affordable for middle-income renters.
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Connecticut Commissioner of Housing Seila Mosquera-Bruno said the investment underscores the state’s commitment to creating affordable and equitable housing opportunities across Connecticut.
“By supporting these developments, we are not just building housing, we are strengthening communities, fostering economic stability and ensuring that more residents, whether seniors or working families, have a place to call home,” Mosquera-Bruno said.
Nandini Natarajan, the CEO and executive director of the CHFA, said that the investments represent that Connecticut is not just financing housing but also investing in the future of its communities.
“These developments showcase the transformative impact of public-private partnerships, bringing together resources to create vibrant, affordable and sustainable housing for residents across income levels,” Natarajan said. “From senior housing in Ansonia to mixed-income communities like The Elle in West Hartford, we are ensuring that Connecticut remains a place where everyone can thrive.”
James O’Donnell Apartments – Ansonia
The 40-unit senior affordable housing development is made possible by a Community Development Block Grant worth $1,728,500 from DOH. This will fund improvements that include the replacement of the building’s elevator and generator, and new interior and exterior doors and windows.
Veterans Terrace III – East Hartford
This is the third and final phase of the East Hartford Housing Authority’s work to redevelop and preserve affordability for 150 housing units. The phase consists of 51 units affordable to households earning between 25% to 60% of the area median income.
DOH will support the project by providing $4.5 million in financing. The CHFA is allocating 9% LIHTCs, which will generate $12.83 million in private investment along with $6.43 million in taxable bond financing and $1 million in financing from the Opportunity Fund.
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THE CHFA is offering a $1.75 million loan through the Build for CT program to support the construction of 40 units; 20 will be affordable to households earning between 60% and 120% of the area median income.
The site is just a short walk away from Fairfield Center, the Metro-North rail line and Fairfield Beach. The building will include underground parking and have historical looking features to blend into the neighborhood.
480 Myrtle St. – New Britain
The old Black and Decker corporate offices are being transformed into 119 affordable housing units available to renters earning 100% area median income. DOH has provided a $1.5 million Urban Act grant to fund the project, which will include a mix of studios, one- and two-bedroom apartments.
Rocky Hill Senior Housing – Rocky Hill
DOH is giving a $2 million Community Development Block Grant to allow for a variety of capital improvements at the nine-building, 40-unit community for senior and disabled residents. Among the improvements will be façade repairs, upgraded handicap accessible units, new windows and flooring and parking lot enhancements.
Parkside Gables – Stamford
A project to rehabilitate Parkside Gables will allow 69 units of affordable housing to be saved. The location is close to Interstate 95 and Stamford’s Metro Center, which gives access to Metro-North, Amtrak and the CT Transit bus service.
Upon its completion, the development will feature 64 units affordable to households earning between 30% and 80$ area median income, as well as five unrestricted units. DOH is supporting the project by providing $6.6 million in funding. The CHFA is providing 4% LIHTCs that will generate $9.34 million in private investment and $13.55 million in tax exempt bond financing.
Shippan Place – Stamford
The CHFA is assisting with this development project, which will include 147 units affordable for tenants ages 62 and older or displaced residents at or below 60% area median income. The community that the development exists in includes public parks, beaches, retail, medical services, places of worship and restaurants. The CHFA is providing 4% LIHTCs that will generate close to $23 million in investment along with $33.55 million in Tax Exempt Bond financing.
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The Villages – Stratford
The CHFA is providing $2.625 million through the Build For CT program to support the construction of a total of 103 units. Twenty-one units will be for middle-income households earning 80% to 100% of the area median income.
Residents at The Villages will have access to indoor and outdoor community space, a fitness center, a dog run/wash and bike storage.
Elle at North Main – West Hartford
This will be a mixed-income rental community consisting of 49 units. Thirty-nine of the units will be made affordable to renters earning at or below 60% area median income, while the remaining 10 units will be unrestricted.
The CHFA is providing 9% LIHTCs that will generate $10.5 million in private investment alongside $5.53 million in Taxable Bond financing and $1 million in funding from the Opportunity Fund. DOH will offer another $5.5 million in financing.
Dalton Zbierski is a digital content producer and writer at FOX61 News. He can be reached at [email protected].
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