Hope on the near horizon
The Stamford Housing Authority has closed on construction financing for the Fairfield Court redevelopment, the final phase in its newest Housing Opportunities for People Everywhere VI revitalization complex.
Key approvals were obtained from the federal Department of Housing and Urban Development, the Connecticut Department of Economic and Community Development, the City of Stamford and the Connecticut Housing Finance Authority, to permit the closing.
HOPE VI is a federal program in which congress provides funds for housing authorities normally doing joint ventures with entrepreneurs to revitalize their public housing. Generally, the properties don”™t work, are lacking in amenities, and are walk-ups with aged heating plants and creaky structural underpinnings.
“Essentially, the federal government has said, ”˜We”™ll put in a dollar but we want to see three dollars coming from elsewhere,”™” said Richard Fox, Stamford Housing Authority executive director. “They want to see private investment, municipal investment and they want to see state investment, and that”™s what we do. That”™s happened at South Wood and that”™s happening at Fairfield Court.”
The Fairfield Court effort is the culmination of years of planning by the Stamford Housing Authority, the Fairfield Court Tenant Association and the authority”™s community partners.
“This closing represents an important milestone in the ambitious goal to reinvent the authority including its physical assets and its primary role in the Stamford community,” said Courtney Nelthropp, Stamford Housing Authority chairman.
The revitalization will feature new facilities on two sites that encompass mixed-income family rental housing, affordable homeownership condos, home buyer down-payment assistance and supportive housing.
“The exact amount of tenants will be replaced in all 144 units in Fairfield Court,” said Vincent Tufo, Stamford Housing Authority director of development. “Typically what we do is we work out a relocation plan with the tenants that involves all kinds of relocation opportunities, options and benefits. Some might want to go into home ownership; others might want to take a section 8 voucher; though many want to stay in Stamford and in assisted housing of one sort or another. We especially give each one of them their first choice; we are going to replace all the units so there”™s never a question as to inefficiency of apartments. We want to give people the opportunity to think about what is best for them.”
In all, the Fairfield Court effort will provide some 275 housing opportunities for the Stamford community. The housing authority operates on a system with at least a year between each development to ensure a capable pipeline of projects coming in as others finish.
The Fairfield Court on-site phase is a $37 million-plus effort requiring the assembly of several financing sources, including from the Connecticut Housing Finance Authority, the state, the HOPE VI program, the city of Stamford, and SunAmerica Affordable Housing Partners.
In addition to encompassing a $26 million hard construction budget, the total development budget also provides for $1.4 million in operating reserves, a $360,000 manned security endowment and a $904,000 supportive services endowment.
“These capitalized endowments, a technique that we successfully employed at Post House Apartments, is a unique way that the Authority has optimized the HOPE VI program and private equity to create self-sustaining human services,” said Fox. “It”™s a very natural phenomenon. You”™re 45 minutes from New York City by rail; you”™re also on major highway transportation networks. You”™re surrounded by the highest per capita incomes and a very diversified corridor economically. Stamford isn”™t dependant on any one industry. And with banks and businesses looking to alternatives to New York City, this is why developers are willing to invest here and can market to New York City.”
Viking Construction Inc. will be the general contractor on Fairfield Court. Building permits have been obtained and construction is dependent upon the demolition contractor making a portion of the site available for new construction. Construction could start in April and be completed in less than two years.
The architectural firm for the project is Herbert S. Newman and Partners P.C.
“Our concern is being able to have neighborhoods grow in such a way that they”™ll still be very pleasant for the average consumer of housing,” said Fox. “Aesthetically, there won”™t be neighborhoods that are jammed with housing and no place to park, and no place for children, recreation and pedestrian pleasantries. So the kind of uses that you see us doing, I think, are very positive, they”™re mixed-income uses and now they”™re going to be mixed retail and residential also, which is an age old approach to street fronts in the United States, and have always been highly successful.”
Vincent Tufo, pointed out the area of the current project, Vital Court, can be extremely unappealing and that is what beforehand had dampened private investment. He says what the Housing Authority is leading in Stamford is breaking the ice in neighborhoods that after all are only a dozen blocks from city center.
“These neighborhoods are so close to a large corporate center and the hottest real-estate markets in the country,” said the housing authority”™s Tufo. “It”™s only really a matter of time until we see other developers coming in and doing market rate housing, retail, office and commercial. We are the leader in coming into these neighborhoods.”
Fox said the housing authority utilizes a formula that does not do rehabilitations, but starts projects brand new and tries to reduce the density to make the environment more livable. The authority tries to provide each resident their own unique entrance with very little common coverage space. There is also an emphasis put on aesthetics.
“There”™s where the social engineering comes in and it”™s a challenge that some said couldn”™t work, and South Wood shows that it can work and I think it will work with Fairfield and Vital,” said Fox. “Initially there was a lot of skepticism, but now people go by exit six and seven there on the turnpike and say that it”™s beautiful.”
According to Fox and Tufo critical support for the HOPE VI program has come via U.S. Rep. Christopher Shays, the city”™s zoning and planning boards and the Mayor Dannel Malloy”™s office. The formerly distressed area of Southfield at one time witnessed store owners distancing themselves from public housing. Now, fences are falling.
“You have very successful businesses that have grownup on Selleck Street with United Rental Facility, Harley Davidson and on West Avenue you have the Subaru dealership and the City Limits Diner,” said Tufo. “In all the surrounding areas, people are fixing up their properties.
When our work gets done, there”™s a lot of enthusiasm and a lot of investment.”
Malloy has commissioned a Neighborhood Revitalization Zone Committee to look at how to coordinate the improvements and solidify existing neighborhoods in a conscious approach.
“It makes for an atmosphere that you”™re going to the zoning board and you”™re received enthusiastically because they know you”™re bringing revitalization and rejuvenating and neighborhood,” said Fox. “I think our program reflects the new urbanism that”™s taking off in America.”