Affordable Housing, Announcements, Community Development, Homelessness, State News, Supportive Housing

Governor Announces Predevelopment Funding for Affordable Housing

 

On Friday, May 10, Governor Malloy and Department of Housing Commissioner Evonne Klein announced $1.16 million in loans to help fund predevelopment work for six proposed affordable housing sites. The loans would be distributed through DOH’s Predevelopment Cost Revolving Loan Program to create 234 units of elderly, family, and supportive housing.

The Predevelopment Cost Revolving Loan Program will provide interest-free and deferred loans for predevelopment costs connected to the construction, rehabilitation, or renovation of low-and moderate-income housing.

Below is a list of the projects:

  • Danielson — The Access Agency, Inc. will receive a $138,000 loan for its Accessing Home project, which proposes ten supportive housing units for chronically homeless individuals and families with special needs.
  • Ledyard — New Samaritan Corp. will receive a $250,000 loan for the Church Hill Woods project. The proposal includes 62 new affordable elderly rental units on rural vacant land.
  • Oxford — The Oxford Housing Authority will receive a $195,360 predevelopment loan for Crestview Ridge Senior Housing II. The proposed project would add eight units of affordable elderly housing to an existing 34-unit development that currently has a substantial waitlist.
  • Salisbury — The Salisbury Housing Committee, Inc. will receive a $85,175 loan to add six new units to Sarum Village, a 16-unit low-income family rental development located in an area that has a severe shortage of affordable housing.
  • Seymour — 16 Bank Street LLC will receive a $250,000 loan for the 38 Columbus Street project. The proposal calls for 26 new units of elderly rental housing adjacent to an existing fully occupied project that was funded by the Department of Economic and Community Development in 2007.
  • Waterbury – The Omni Deveopment Corporation will receive $250,000 to demolish and reconstruct 122 units of affordable rental housing at Waterbury’s Warner Gardens.

Read the full press release on the CT.GOV website.  
 

 
 

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