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The money is part of about $55 million the state is doling out in loans and grants to help 13 affordable housing developments in 11 towns and cities across Connecticut, according to a press release from the state.
Lawn Hill Terrace is a 204-unit development owned by Charter Oak Communities (formerly known as the Stamford Housing Authority). The money will cover renovations to 60 units, including new kitchen and baths, heating systems and exterior work. Of the 60 units, six will be handicapped accessible.
This is the second phase of a multi-phase renovation of Lawn Hill Terrace. This project leverages $8.3 million in Low-Income Housing Tax Credit proceeds, $11.2 million of bonds issued by Charter Oak Communities and $6.4 million provided by the city and affiliated entities of the housing authority.
“Our administration has prioritized the creation of quality, affordable housing as a key component of our strategy to jump start Connecticut’s economy," said Gov. Dannel Malloy in the press release. "Access to housing means more jobs, more revenue, and more business development. These kinds of capital investments are revitalizing the state’s existing stock of affordable housing, while creating new opportunities for private sector investments. With these awards, we are ensuring our investments will be sustainable for the long term.”
Approximately $35 million is part of a 10-year, $300 million state housing revitalization program, while the remaining $20 million is part of the ninth round of the state's Competitive Housing Assistance for Multifamily Properties program, according to the press release.
“Ensuring access to quality, safe, and affordable housing for Connecticut residents is good for the economy, good for local businesses and it adds vibrancy to our communities.” said Connecticut Housing Finance Authority Executive Director Karl Kilduff.
The other communities receiving money were:
- Hartford: About $1.3 million for the Rose Garden Limited Equity Cooperative.
- Manchester: About $3.6 million for the Westhill Gardens Congregate.
- Meriden: $5.7 million for Yale Acres.
- Norwalk: About $3.4 million for the Ludlow Commons Congregate and about $3.5 million for The Marvin.
- New Canaan: $5.1 million for Millport Phase II.
- Shelton: About $3.3 million for the Helen DeVaux Apartments.
- Willimantic: About $4.9 million for Marcella Eastman Curran Terrace. and about $2.6 million for the Murray Building.
- Windsor: About $4.4 million for Millbrook Village.
- Glastonbury: $6.5 million for Center Village.
- Hamden: $6.5 million for Westwoods Place.
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