Affordable Housing, Announcements, Community Development, State News

Gov. Malloy Announces State Affordable Housing Investments

 

Connecticut will help finance 10 affordable housing developments through the Competitive Housing Assistance for Multifamily Properties (CHAMP) initiative. On August 2, 2012, Governor Malloy, along with Lt. Governor Nancy Wyman, Department of Economic & Community Development (DECD) Commissioner Catherine Smith and Connecticut Housing Finance Authority (CHFA) Executive Director Eric Chatman, announced this increased commitment to affordable housing.

CHAMP will provide funding through DECD, with CHFA providing funding to two projects through Tax-Exempt Bonds and 4% Low Income Housing Tax Credits (LIHTC). This initiative will create or preserve 1,018 units of rental housing throughout Bridgeport, Guilford, Hartford, New Haven, Norwalk, and Norwich.

Affordable housing is something the in which the Governor believes strongly . At the press conference Governor Malloy stated:

"We are committed to a robust housing program that promotes workforce, affordable, supportive, and congregate housing, and we’re just getting started. Our 10-year program of investment – on the order of $500 million dollars – will renovate existing properties and build new ones, improving quality of life and strengthening communities now and for years to come."

The Governor’s also announced 11 state-sponsored housing developments that will receive funding under the Administration’s$300 million 10- year commitment to help with the preservation and revitalization of Connecticut’s deteriorating public housing.  Eleven shovel ready projects that have the potential to renovate up to 1,257 affordable rental units in the first year have already been selected to receive funding.

Additionally, the Administration released a schedule for upcoming funding rounds for DECD-sponsored programs, CHAMP 2, CHAMP 3, congregate housing, nursing home right sizing and the 2013 Housing Tax Credit Contribution Program. The full schedule is available in the press release.  

The projects are as follows:
Competitive Housing Assistance for Multifamily Properties (CHAMP)

  • City, Project Name, Total Units, Minimum Affordable Units
  • Bridgeport, Jayson/Newfield, 87, 77
  • Brdigeport, Southend Comm Bldg Init, 9, 5
  • Bridgeport, Mechanics & Farmers, 30, 12
  • Guilford, Boston Terrace Net Zero, 9, 9
  • Hartford, 77 Main St, 286, 40
  • Hartford, MD Fox School, 90, 90
  • Hartford, On the Plaza, 199, 40
  • New Haven, Winchester Lofts, 158, 32
  • Norwalk, River Commons, 34, 34
  • Norwich, The Lofts at Ponemah Mills, 116, 28

State-Sponsored Housing Portfolio Projects

  • Town, Project, Number of Units
  • Waterbury, Brookside Co-ops, 102
  • Bristol, Dutton Heights, 84
  • Stamford, Atlantic, 28
  • Stratford, Meadowview Manor, 100
  • Sprague, Shetucket Village, 20
  • Oxford, Crestview, 34
  • Sharon, Sharon Ridge, 20
  • Cornwall, Kugeman Village, 18
  • Orange, Silverbrook, 45
  • East Lyme, Faylor Apartments, 36
  • Hartford, Westbrook/Bowles, 770

For the full press release, and the funding schedule of DECD and CHFA housing investment for Fiscal Year 13, click here.

 
 

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