News
Funding for four more affordable housing projects announced
By Governor Rell's office
Aug 21, 2008 - 10:32:27 PM

Governor M. Jodi Rell today announced that the state is releasing more than $3.7 million in financial aid for four affordable housing initiatives in Hartford and New Haven.

“Our economic security – especially in a time when the national economy is in the doldrums – depends in part on our ability to keep and nourish a strong work force,” Governor Rell said. “Those workers need and deserve safe, enjoyable neighborhoods to live and raise their families, and that is why affordable housing has long been a priority for my Administration.

“The state can be a critical partner with our cities and towns,” the Governor said. “Even if resources are limited at the local level, the state can help with initiatives that revitalize downtowns and neighborhoods and help our residents most in need. These four developments show how the state can promote policy goals, create 63 units of affordable housing and help so many achieve the dream of homeownership.”

These projects are being funded through the five-year, $110 million Housing Trust Fund, which is administered by the Department of Economic and Community Development. The projects are:

· Orchard Street Redevelopment, New Haven: The project will receive up to $450,000 for a major rehabilitation of four owner-occupied homes in the Winchester Repeating Arms Company Historic District. Once completed, there will be one two-family and three single-family properties. The owner-occupied units will be offered to first-time homebuyers earning up to 80 percent of the area median income and a 15-year affordability period will be enforced.

· Affordable Housing Project, New Haven: Neighborhood Housing Services will receive up to $500,000 for the redevelopment of six homes in the Newhallville and Hill neighborhoods. The homes will be rehabilitated and resold to low- and moderate-income, first-time homebuyers. Four of the homes will include a rental unit. The total cost of development is estimated at $1.9 million.

· Townhomes at Dutch Point, Hartford: The project will receive up to $2 million for its final phase, a mixed-income townhouse community featuring two- and three-bedroom new construction condominiums. The Townhomes at Dutch Point will include 58 privately owned residences, with 40 reserved for low- and moderate-income families.

· Upper Albany Avenue Neighborhood, Hartford: The project will receive up to $807,500 for the construction of four two-family homes on Edgewood Street in the Upper Albany Avenue neighborhood. Two Hartford “perfect sixes” in owner-occupied, two-family houses will be redesigned. Each homeowner unit will also include a rental unit. The Christian Activities Council, which sought the funds, is targeting these units for families earning up to 80 percent of the area median income. All successful applicants will participate in a 12-week homeownership training program as well as post-closing support.

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