June 25, 2024
SENATOR NEEDLEMAN WELCOMES $1.125 MILLION DEPARTMENT OF HOUSING LOAN SUPPORTING AFFORDABLE HOUSING IN HADDAM
Today, State Senator Norm Needleman (D-Essex) welcomed the Department of Housing’s announcement that it will invest $1.125 million in a loan supporting the construction of nine units on Bridge Road in Haddam that will support residents earning 80% of area median income. This financing agreement is part of a statewide effort to create more than 700 housing units statewide supporting low- and moderate-income renters, people experiencing homelessness and people with disabilities.
The state’s new Build For CT program will support an existing 44-unit development on Bridge Road, adding the new units; this will be the third development funded through Build For CT since its launch in late 2023. The program, which is a collaboration between the Department of Housing and the Connecticut Housing Finance Authority and has supported the creation of more than 200 apartments designed to be affordable for middle-income renters statewide.
“More affordable housing in our communities is always a good thing, and I’m grateful to the Department of Housing for its work to support it in Haddam,” said Sen. Needleman. “I’m hopeful that this is just the start and we can continue finding strong opportunities to support our residents here and statewide, as affordable housing remains a pervasive issue across our state.”
“Since 2019 we have built or rehabilitated 12,000 affordable units in different communities around the state, with another 5,000 under construction,” said Connecticut Housing Commissioner Seila Mosquera-Bruno. “Soon these units will become homes for many families who expect and deserve high-quality affordable living. DOH will continue to work with all of our partners to ensure that residents have options that are affordable in the community they choose to call home.” |
