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11/20/2018

Gov. Malloy Announces $22 Million to Develop over 700 Affordable Housing Units in Hartford, New Haven and Waterbury

(HARTFORD, CT) – Governor Dannel P. Malloy and Department of Housing (DOH) Commissioner Evonne M. Klein today announced that nearly $22 million is being awarded to support the development of affordable housing in Hartford, New Haven, and Waterbury as part of the latest round of funding under the state’s Competitive Housing Assistance for Multifamily Properties (CHAMP) program. The awards will create, rehabilitate, or preserve 702 units of housing and greatly expand access to mixed-income, multifamily units across the state while building on the state’s efforts to prevent and end homelessness.

“Investing in creating new housing opportunities in all of our towns and cities has been a key part of my administration’s overall economic development strategy,” Governor Malloy said. “For nearly three decades, Connecticut made almost no attempt to encourage the development of affordable and multifamily housing in our state. These new awards represent our administration’s ongoing commitment to improving Connecticut’s housing infrastructure and will play an important role in attracting new talent to our workforce, incentivizing our young people to stay in Connecticut, and encouraging business growth.”

CHAMP, administered by DOH, provides developers and owners of multifamily affordable housing the necessary gap financing to create more affordable units in their developments. These financial rounds are designed to incentivize developers to create more opportunities for housing in diverse communities, while fostering inclusivity and expanding the state’s much-needed affordable and multifamily housing stock.

“During the past eight years, we’ve made historic investments in the development of mixed-use and affordable housing,” Commissioner Klein said. “One thing is certain – people want to develop housing in Connecticut, and under the Malloy administration we’re doing just that. After funding nearly 25,000 units, we’re continuing to make real progress. A strong pipeline of housing options will help to grow our economy and I’m proud to announce these new awards today.”

The Malloy administration remains committed to promoting strategies that prevent and end homelessness while also working to increase the state’s stock of affordable housing. Since 2011, DOH and the Connecticut Housing Finance Authority have created, rehabilitated, or committed funding for nearly 25,000 units of housing – approximately 22,000 of which are affordable to low and moderate income individuals and families. This represents a state investment of nearly $1.5 billion, which has been matched by $2.5 billion from other financial sources, including the private sector.

The recipients for the twelfth round of financing under the CHAMP program include:

  • Hartford: 316 On the Park and Terrace II, 89 units ($2,770,042) – DOH will provide a loan up to $2,770,042 to the Mutual Housing Association of Greater Hartford, Inc. to assist in the moderate rehabilitation of an existing thirteen building development. The project consists of 68 affordable residential units that will be rehabilitated, and an additional 21 affordable units that will be created, for a total of 89. This development is located in the Frog Hollow neighborhood of Hartford within easy walking distance to shopping, restaurants, recreation, and transportation services.
  • New Haven: Farnam Courts Phase 2A, 45 units ($3,835,002) – DOH will provide a loan up to $3,835,002 to the Glendower Group, Inc., a subsidiary of the New Haven Housing Authority, to assist in the new construction of four buildings on a currently vacant site, containing 45 residential units, with 36 affordable and 9 market-rate units. The affordable units will serve low-income households with incomes not exceeding 25 percent, 50 percent, and 60 percent of the area-median income and will provide two, three, and four bedroom units. This project is part of a four-phased redevelopment of Farnam Courts public housing in New Haven. The first two phases have been completed.
  • New Haven: Hill-to-Downtown: 49 Prince Street, 30 units ($2,751,000) – DOH will provide a loan of approximately $2,751,000 to RMS Downtown South-Hill North Development Company, LLC to assist in the adaptive reuse of the former Welch Annex School into 30 affordable units. The development will serve households with incomes at 25 percent, 50 percent, and 60 percent of the area-median income and will include studio, one bedroom, and two-bedroom units. The development is located within walking distance of Yale-New Haven Hospital and other commercial and retail businesses. The project is part of the Hill-to-Downtown Planning Initiative, a long-term action plan to encourage development in the area between Union Station and Yale-New Haven Hospital.
  • New Haven: Ruoppolo Manor and Fairmont Heights, 201 units ($3,724,000) – DOH will provide a loan of approximately $3,724,000 to the Glendower Group, Inc., an affiliate of the Housing Authority of New Haven (HANH) to assist in the rehabilitation of three buildings comprising 201 affordable units. The development is 100 percent affordable and will serve senior and disabled resident households with incomes at 30 percent, 50 percent, and 80 percent of area-median income. It is located within easy walking distance to transportation, shopping, and recreation. This project is part of the multi-phase redevelopment of HANH’s public housing properties that are being funded with financial assistance from HUD under its Rental Assistance Demonstration program.
  • Waterbury: Enterprise Apartments and Abbot Towers, 187 units ($4,750,000) – DOH will provide a loan of approximately $4,750,000 to Enterprise Abbot Limited Partnership to assist in the rehabilitation of two buildings comprising a total of 187 affordable units. The project will serve households with incomes at 25 percent, 50 percent, and 60 percent of area-median income. Both sites are approximately one-quarter mile from downtown Waterbury and include mass transit opportunities, the expanded University of Connecticut Waterbury campus, and the Palace Theater.
  • Waterbury: Exchange Place Tower, 150 units ($4,000,000) – DOH will provide a loan of approximately $4,000,000 to Cornerstone-Bayview, Inc./NHPF, an affiliate of the NHP Foundation, to assist in the rehabilitation and preservation of Exchange Place Tower. The development, which contains ground-floor retail commercial space, consists of 150 units that will be affordable to residents with incomes at 25 percent, 50 percent, and 60 percent of the area-median income. Located in downtown Waterbury, the development is walkable to local shopping, medical services, and public transportation.

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