Governor Announces $70 Million in State and Federal Money for CT Housing

Yesterday, Governor Dannel P. Malloy, Department of Housing Commissioner Evonne M. Klein, and Connecticut Housing Finance Authority President and Executive Director Eric Chatman announced that over $70 million in federal and state funds will go to 16 affordable housing projects throughout Connecticut.

The funding will be used to create or upgrade 694 rental apartments in Hartford and other cities, and is expected to create jobs, revitalize neighborhoods, and generate an additional$116 million in private investments.

The 16 projects chosen competed for federal funding through the Nine Percent Low Income Housing Tax Credits program and state money from the Competitive Housing Assistance for Multifamily Properties (CHAMP) initiative, administered by the Department of Housing. The two projects in Hartford will be funded by CHAMP, which assists developers of multifamily rental properties with expansions of affordable and congregate housing.

The Hartford projects consist of a plan to convert the vacant Hartford Office Supply Building at Capitol Ave and Flower Street into a mixed-income residential community with 112 units, 23 of them classified as affordable, and a project that will combine two existing developments, Sheldon Oak Central Cooperative II and Wyllys/Lisbon Cooperative. The two multi-family residences, on South Prospect Street and Wyllys Street, will contain 107 affordable units.

Other housing developments chosen for funding are in Bridgeport, Danielson, Farmington, Greenwich, Meriden, New Haven, Norwalk, Seymour, Stamford, Waterbury, and Willington.

For more details about the projects and funding, read the announcement on the governor's website. http://www.governor.ct.gov/malloy/cwp/view.asp?Q=543226&A=4010