FOR IMMEDIATE RELEASE
Contact: Joe O’Leary | Joe.OLeary@cga.ct.gov | 508-479-4969

SENATOR ANWAR WELCOMES NEW STATE SUPPORT FOR EAST HARTFORD’S VETERANS TERRACE

State Senator Saud Anwar (D-South Windsor) today welcomed this week’s announcement by the state Department of Housing and Connecticut Housing Finance Authority that they are supporting nine developments across the state to create and preserve more than 650 housing units, including investments in the East Hartford community to redevelop and preserve the affordability of 51 local units of housing.

In East Hartford, the Department of Housing will provide $4.5 million in financing for the Veterans Terrace III project, with the CHFA providing low-income housing tax credits expected to generate more than $12 million in private investment. Along with $6.43 million in taxable bond financing and $1 million in Opportunity Fund financing, this will support the preservation of 51 housing units to be made affordable to households earning between 25 and 60% of area median income.

“It’s great news for the East Hartford community that this new funding will further support affordable housing units and support local residents,” said Sen. Anwar. “I’m very encouraged that Connecticut continues to invest in East Hartford and am encouraged by the positive benefits this will have for our town.”

This investment comes as part of more than $75 million in loans, grants and low-income housing tax credits in this round of funding statewide. Nine communities will receive funds to preserve 658 housing units, with 381 designated as affordable for low- and moderate-income renters.