WESTPORT – The long-awaited 122 Wilton
Road Apartments affordable housing building is officially open for business.
The building, which includes 19 units, was christened by Gov. Ned Lamont Sept. 27. Thanks to a $7.5 million state grant from the Department of Housing and financing from the Connecticut Housing Finance Authority the 122 Wilton Road building is one of six in the state to provide housing to those who are homeless and people with disabilities, according to housing Commissioner Seila Mosquera-Bruno.
Through the financing and grant deal a total of 758 housing units, including 396 affordable units for low- and moderate-income renters, will be available for people in Westport, Norwalk, Stamford, Waterford and Norwich.
This affordable housing development consists of the acquisition of a rehabilitated, unoccupied building, and all of its newly opened units will be subject to affordability restrictions, reaching families and individuals at or below 60% of the area median income.
The pre-application period for people to get one of the apartments closed in July.
The Wilton Road building was sold for $7.4 million by 122 Wilton Road LLC to WRCH 122 Wilton Road LLC in late September, according to Westport property records.
“We’re excited that these finance agreements are done, and construction can begin,” Mosquera-Bruno said in August at the announcement of the six projects. “These units will become permanent homes for our residents who deserve high-quality affordable living. DOH will continue to work as fast as possible to ensure our families and individuals have affordable housing options in their own communities.”
The 122 Wilton Road development consists of 19 residential units, consisting of one, two- and three-bedroom units. Once complete, the development will serve families and individuals at or below 60% AMI. This particular development is made possible through a collaboration between WRCH Inc. and Homes with Hope, a Westport-based organization dedicated to preventing and ending homelessness in Fairfield County.
The other Fairfield County homes that are part of the program are:
Monterey Village, Norwalk – Located in the South Norwalk neighborhood, Monterey Village is a 14 building, 161-unit apartment community located just minutes from downtown. CHFA is providing 4% LIHTCs that will generate more than $21 million in private investment. All units will be restricted to households earning at or below 60% of the area median income (AMI).
Wall Street Place, Norwalk – Wall Street Recap Associates, LLC is working in collaboration with the Norwalk Redevelopment Agency and the support of the City of Norwalk to create a new mixed-income, mixed-use redevelopment. In addition to the $13.6 million in funds provided by DOH, CHFA is awarding 4% LIHTCs that will raise nearly $55 million in private investment. These funds will support the development of 155 new units in Norwalk, all of which will be restricted to households earning between 20-80% AMI.
Oak Park Phase I, Stamford – This is the first phase of a proposed three-phase redevelopment of Oak Park in Stamford, which was built in the 1940’s under the State Moderate Rental Program. This phase of development includes a total of 61 units, 19 of which will be utilizing project-based vouchers supporting very low-income households. All units will be affordable to households earning at or below 60% AMI. The property will also support a part time resident service coordinator. In addition to $4 million in financing provided by DOH, CHFA is awarding 9% LIHTCs that will raise more than $17 million in private investment.
