HARTFORD – Affordable housing units in Fairfield, Stamford, and Stratford are among nine developments throughout the state that have received state financing, according to the Connecticut Department of Housing (DOH) and the Connecticut Housing Finance Authority (CHFA.
In an announcement on Jan. 16 the two state agencies said they have signed financing agreements for nine developments that will contribute to the creation and preservation of 658 housing units, including 381 affordable units for low- and moderate-income renters, 10 of which will be designated as permanent supportive housing. In addition to the Fairfield County municipalities, other developments receiving the financing are in Ansonia, East Hartford, New Britain, Rocky Hill, and West Hartford.
DOH is providing more than $21.8 million in loans and grants, and CHFA is providing low-income housing tax credits that will generate more than $55 million in private investment along with $61.5 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 $4.37 million for 143 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.
“By supporting these developments, we are not just building housing; we are strengthening communities, advancing economic stability, and ensuring that more residents — whether seniors or working families — have a place to call home,” said state Commissioner of Housing Seila Mosquera-Bruno. “These investments are another example of our commitment to creating affordable and equitable housing opportunities across Connecticut.”
Nandini Natarajan, CHFA’s CEO and executive director, believes these investments signal that Connecticut is investing in the future of communities.
“These developments showcase the transformative impact of public-private partnerships, bringing together resources to create vibrant, affordable, and sustainable housing for residents across income levels,” Natarajan said. “From senior housing in Ansonia to mixed-income communities like The Elle in West Hartford, we are ensuring that Connecticut remains a place where everyone can thrive.”
The Fairfield County developments include:
131 Beach – Fairfield
Through the Build For CT program, CHFA is providing a $1.75 million loan to support the construction of 40 units, 20 of which will be affordable to households earning between 60% and 120% AMI. The site is within walking distance from Fairfield Center, Metro-North rail line, and Fairfield Beach. The building will have underground parking and be styled to blend into the neighborhood with historical looking features.
Parkside Gables – Stamford
The rehabilitation of Parkside Gables will preserve 69 units of affordable housing close to I-95 and Stamford’s Metro Center which provides access to Metro-North and Amtrak as well as CTtransit bus service. When completed, the development will include 64 units affordable to households earning between 30% and 80% AMI and five unrestricted units. To support the development, DOH is providing $6.6 million in funding and CHFA is providing 4% LIHTCs that will generate $9.34 million in private investment, along with $13.55 million in tax exempt bond financing.
Shippan Place – Stamford
CHFA is assisting the rehabilitation of Shippan Place in downtown Stamford. When completed, the newly renovated development will consist of 147 units affordable to tenants age 62 and older or disabled residents with at or below 60% AMI. Amenities in the surrounding area include public parks, beaches, retail, medical services, places of worship, and restaurants. CHFA is providing 4% LIHTCs that will generate nearly $23 million in investment along with $33.55 million in tax exempt bond financing.
The Villages – Stratford
Through the Build For CT program, CHFA is providing $2.625 million in financing to support the construction of 103 total units, including 21 middle income units affordable to households earning 80% to 100% AMI. Residents of The Villages will enjoy access to indoor and outdoor community space, a fitness center, a dog run/wash, and bike storage.
This was the second round of state financing for housing units in Fairfield County in the past year. On Aug. 22, 2024 the DOH and CHFA announced a financing agreement for six developments across the state. Four of the six developments are Norwalk, Stamford, and Westport. That included $25 million in loans and grants from DOH and low-income housing tax credits (LIHTCs) from CHFA that are expected to draw over $93 million in private investments.
There are a total of 362 units that will be funded through the new Build for CT program. The program is a collaboration between the DOH and CHFA to support the creation of apartments aimed at providing an affordable option for middle-income renters.
