The Connecticut Development Authority allocated $16 million in bond funding to support Building and Land Technology”™s Harbor Point development in Stamford, the first project in the state to receive money from Recovery Zone Economic Development Bonds.
The Recovery Zone Bond Program provides $90 million through the American Recovery and Reinvestment Act so-called recovery zones throughout the state, and allows for lowered financing costs for construction projects. The $16 million approved for Harbor Point will come out of Fairfield County”™s allocation of $26.8 million
“This mixed-use project will bring jobs, housing opportunities and many other benefits to the community and the region, and its proximity to mass transit make it a great example of responsible growth,” Gov. M. Jodi Rell said in a statement.
Starboard Capital Partners is relocating its headquarters to 30 Jelliff Lane in the Southport section of Fairfield, taking 2,500 square feet of space.
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Vidal/Wettenstein L.L.C. advised Starboard Capital in its lease search and negotiations.
Starboard Capital advises on acquisitions of companies valued between $25 million and $50 million.
Multiple affordable housing projects in Fairfield County recently received federal and state support.
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The Connecticut Housing Trust Fund awarded a $4.7 million loan to 80 Fair Street Apartments in Norwalk, a $13 million project that includes 16 units of housing.
The trust fund is disbursing $1.6 million to the Bridgeport Neighborhood Trust, which is building replacement housing for the former Pequonnock public housing complex. The Bridgeport Neighborhood Trust is also receiving a $300,000 grant to renovate four housing units at 128 and 149 Holly St. in Bridgeport.
New Canaan is receiving $2.1 million in assistance from the state of Connecticut to support an expansion of the town”™s Mill Apartments affordable housing project.
The New Canaan Housing Authority, which owns the eight-building complex, will receive a low-interest loan to demolish and replace the existing buildings, adding 24 new units to the 16 units that already exist. The total cost for the project is estimated at $7.8 million.
The project is being funded through the federal HOME Investment Partnership Program, which is administered in Connecticut by the Department of Economic and Community Development.
