Six housing developments in Fairfield County are among 14 that have signed financing agreements with the Connecticut Department of Housing (DOH) and the Connecticut Housing Finance Authority (CHFA).
In total, there will be 771 housing units created, including 294 that are affordable for low- and moderate-income renters and 56 will be designated as permanent supportive housing, according to a joint statement Wednesday, Dec. 4 from DOH and CHFA.
The developments are located in Bridgeport, Cheshire, Derby, Farmington, Greenwich, Haddam, New Haven, New London, Norwalk, Shelton, and Wilton.
DOH is providing more than $57 million in loans and grants, and CHFA is providing low-income housing tax credits (LIHTC) and State Housing Tax Credits (HTCC) that will generate more than $45 million in private investment along with $22.4 million in first mortgage financing. The affordable units will be earmarked for residents making up to 80% of the Area Median Income (AMI).
In addition, CHFA signed financing agreements totaling $12 million for 103 units to be funded by the Build For CT program, a collaboration between DOH and CHFA to support the creation of apartments designed to be affordable for middle-income renters.
These financing agreements mean those developments are now ready to begin construction.
“The need for affordable and supportive housing in Connecticut is urgent, and these 14 developments reflect our shared commitment to meeting that demand,” says Seila Mosquera-Bruno, state Housing commissioner. “With funding from the Department of Housing, we are providing resources that enable communities to grow while creating homes that are accessible, affordable, and supportive of residents’ unique needs.”
CHFA CEO-Executive Director Nandini Natarajan said the developments show the transformative power of public-private partnerships in addressing Connecticut’s diverse housing needs.
“By leveraging programs like LIHTC, HTCC and Build for CT, we are creating opportunities for individuals and families at various income levels to access high-quality housing,” Natarajan said. “CHFA remains committed to working with our partners to ensure these investments foster vibrant, inclusive communities across the state.”
The Fairfield County developments include:
Hanover Street Residences – Bridgeport
Hanover Street Residences will consist of new construction of three three-family homes on the site of buildings destroyed by fire. Each unit will accommodate families at or below 80% AMI. Working in partnership with Baldwin Holdings, Inc and Park City Communities, DOH is supporting the development through $815,000 in grant funding.
Armstrong Phase 4 – Greenwich
Armstrong Court Phase 4 is the fourth phase of the redevelopment of Armstrong Court, a 144-unit family development contained in six buildings. This phase will consist of 48 new apartments affordable to households earning 50% to 60% AMI and will include a mix of two- and three-bedroom units. To support this new construction, CHFA is providing 9% LIHTCs that will raise over $13 million in private investment and is awarding over $9 million in taxable bond financing. Additionally, DOH is providing $5 million in FLEX funding.
24 Berkley St. – Norwalk
24 Berkeley St. is a new construction development that will provide five three-bedroom townhouses for families earning 30% AMI. Each townhouse will have two bathrooms and a garage. With $1.5 million in funding from DOH and $500,000 from CHFA’s HTCC program, 24 Berkeley development will be led by Open Doors, a non-profit who has provided poverty and homelessness resources to the Norwalk community for past the 40 years.
370 West Main – Norwalk
Utilizing $5 million from the Build For CT program, 370 West Ave. will include 204 newly constructed units, 40 of which will be affordable to households earning between 60% and 80% AMI. The property will also include 4,000 square feet of retail space and an outdoor common space that will feature a swimming pool, patio area, grills, and other amenities.
Langanke’s Landing – Shelton
When completed, Langanke’s Landing will be comprised of a four-story apartment building with 55 apartments, 12 of which will be affordable to households earning 60% to 80% AMI. The development is supported by $1.375 million from the Build For CT program.
Wilton Center Lofts – Wilton
Wilton Center Lofts represents the first development in downtown Wilton in the past 30 years. With support from a $1.75 million loan from the Build For CT program, the property will include 40 units, 20 of which will be affordable to household earning at 60% and 120% AMI.
