Greenwich Communities has announced the financial closing of Phase II of a multiphase rehabilitation of its Armstrong Court Development. The cost of the 42-unit project is $27 million.
Last April, Greenwich Communities ”“ formerly known as Greenwich Housing Authority ”“ was notified that it would receive $10.5 million in tax credits from the Connecticut Housing Finance Authority (CHFA), the allocating agency for the Low-Income Housing Tax Credit (LIHTC) program in Connecticut. CHFA provides tax credits to developers who best meet the State”™s criteria and goal of providing affordable housing to residents.
Enterprise, a capital investor, has bought the tax credits offered by CHFA.
In addition, Greenwich Communities will receive loans funded by the Department of Housing. HUD is providing 14 section 8 vouchers to provide housing for low-income residents.
At a dedication ceremony on April 10, Governor and Greenwich resident Ned Lamont said the new name Greenwich Communities “demonstrates that our towns, starting with Greenwich, my town, makes a commitment to affordable housing.”
“As I tell folks who sometimes get a little edgy about affordable housing, I like that the people who work in my town can afford to live in my town,” he added later. “That’s called community, and that’s what makes a community special. Connecticut is trying to do the best we can there, and Greenwich has really taken the lead.”
The 144-unit Armstrong Court redevelopment project consists of four phases. Phase one of the project began in May 2019 and was completed in June 2020, with newly constructed townhouses at the cost of $15 million. The second phase, the complete renovations of the 42 units in buildings 1, 3, and 6., is set to begin later this month.
Phase three, a single large building of 42 units, will start construction in late 2021 or early 2022 with an expected cost of around $25 million.
Each phase of development is expected to take approximately 12 months, and no existing residents will be relocated outside of the property. The first three phases represent an investment of $64 million at Armstrong Court.
“The financial close of Phase II is an extraordinary accomplishment for our organization and will contribute greatly to furthering our commitment to provide quality, safe and affordable housing now and well into the future in the Town of Greenwich,” Greenwich Communities CEO and Executive Director Anthony Johnson said in a statement.
Major improvements at Armstrong Court have not occurred since the 144 units were built  in 1951.
The second phase will include combining the current one-bedroom and two-bedroom units to create three-bedroom and two-bathroom apartments. The larger units are in high demand by families and will provide a higher standard of living. Construction is expected to take approximately 12 months.
Additional features and amenities in each building will include expanded living space, cosmetic enhancements, the addition of air conditioning, electrical and insulation upgrades, improved rooflines, and the creation of new and renovated meeting and laundry facilities.
