Connecticut Invests More Than $50 Million in Housing Developments Statewide

By Joe O’Leary

December 12 @ 5:00 am

Connecticut’s Department of Housing and the state Housing Finance Authority recently announced that they will contribute more than $57 million in loans, grants, and tax credits to support the creation of more than 750 new housing units across the state.

The DOH and CHFA signed agreements with 14 developments to create a total of 771 housing units, 294 of which will be designated for low- and moderate-income renters and 56 of which will be permanent supportive housing.

The funds will support projects around the state, with Bridgeport, Cheshire, Derby, Farmington, Greenwich, Haddam, New Haven, New London, Norwalk, Shelton and Wilton among the communities to receive funding for new developments.

The CHFA signed additional financing agreements worth $12 million for 103 of those units to be funded by Build For CT, a program to create apartments that will be affordable for middle-income renters.

With the agreements in place, developments can now begin construction.

In a press release, Connecticut Housing Commissioner Seila Mosquera-Bruno said the financing reflected the state’s commitment to meeting urgent housing demands.

“[W]e are providing resources that enable communities to grow while creating homes that are accessible, affordable, and supportive of residents’ unique needs,” Mosquera-Bruno said.

The funded projects will include new construction of three-family homes to replace buildings destroyed by fire in Bridgeport, two separate Cheshire developments creating a total of 136 units and a Greenwich redevelopment creating 48 new units. In most cases, the projects receiving funding will include many affordable homes.

In Farmington, for instance, at 1600 New Britain Avenue, a new development will include 20 supportive housing units for Department of Developmental Services clients and another 68 units designated as affordable for residents earning 80% or below of area median income.

The December announcement came just four months after the DOH and CHFA committed another $25 million in loans, grants and low-income housing tax credits to finance another 758 housing units.

Those earlier projects included 396 units designated as affordable and 18 units set aside as permanent supportive housing for people recovering from homelessness or those who have disabilities.

Together, the projects received investments of more than $80 million in just the last six months to create more than 1,500 housing units in an effort to alleviate Connecticut’s housing crunch.

State Sen. Norm Needleman, an Essex Democrat who represents Haddam, where a $1.25 million loan will support 32 new units, said the new developments would help meet housing needs in many Connecticut communities.

“They will help reduce strain in the housing market and provide more opportunities for people to fill the tens of thousands of jobs still open throughout our state,” Needleman said. “It’s really encouraging to see the Department of Housing and Housing Finance Authority working together to support our state.”