(Hartford, CT)—Today, the Connecticut Congressional Delegation applauded the approval of $8.08 million in Federal Low Income Housing Tax Credits (LIHTC) that will generate $79.9 million in equity from private investors for affordable multifamily housing developments in East Haven, Hartford, Montville, and Norwalk.
The LIHTC program received a 12.5 percent increase over the next four years in the recently passed omnibus spending bill with support from the federal delegation.
“This smart federal investment is a win-win for Connecticut—increasing access to affordable housing and boosting economic development in our communities. These projects will increase quality of life for low-income residents and their families, making our neighborhoods a better place to live, work, and grow. We’re proud to have secured a 12.5 percent increase in funding for these tax credits in the latest spending bill that will deliver real, sustained housing support to communities throughout Connecticut,” said the delegation.
The developments will create 377 rental units: 296 designated as affordable and 81 designated as market rate. The redevelopment of these properties is projected to generate 704 jobs in construction and related fields, $170.2 million in economic activity and $14.6 million in net state revenue.
As announced by the Connecticut Housing Finance Authority, the following developments received low income housing tax credits:
· East Haven - East Haven High School Apartments, $1,424,468 million in tax credits: Renovation and adaptive reuse of the former East Haven High School, built in 1936, will create 70 units of affordable elderly housing, 50 of them for households with incomes of up to 60% of Area Median Income. The remaining 20 units are designated as market rate. There will be 14 units with supportive services for families and individuals who are chronically homeless. The Town of East Haven will maintain its ownership of the building’s pool, gymnasium, and auditorium.
· Hartford - The Hub on the Park, $999,499 million in tax credits: The existing building at 981 Park Street in the Frog Hollow section of Hartford will be demolished and replaced with 45 new units of mixed-income housing. There will be 5 market-rate units and 45 units for households with incomes of up to 60% of Area Median Income. The development is located near the Parkville CTfastrack station and will include the substantial rehabilitation of three 3-family homes adjoining the property.
· Montville - Oxoboxo Lofts, $1,425,001 million in tax credits: The adaptive reuse and conversion of a historic mill complex in Montville will create 72 new units, with 15 supportive units, 57 units for households with incomes of up to 60% of Area Median Income. Oxoboxo Lofts is the first significant housing development in the area for decades.
· Norwalk - Washington Village, Phase Two, $1,868,562 million in tax credits: As part of the Master Redevelopment Plan Project of the Washington Village public housing plan, by the Norwalk Housing Authority, 85 units of housing, 42 of them replacing demolished units, will be built. There will be 20 market rate units and 65 units for households with incomes of up to 60% of Area Median Income. The complex will include 17 units of supportive housing. Additional public infrastructure improvements of $2.8 million are part of Phase Two development.
· Hartford - Westbrook Village I, $1,680,000 million in tax credits: As the first phase of the redevelopment of the post-World War II housing development, the new Westbrook Village I will have 75 new units, 15 with supportive services. The mixed-income development will have 15 market rate units and 60 units for households with incomes of up to 60% of Area Median Income. This phase includes the demolition of 100 units in 23 buildings and abatement of the site. The new development will have access to transit and include a community space and playground.
· Hartford - Willow Creek Apartments Phase III, $689,931 million in tax credits: The third phase of redevelopment of another post World War II, development, Willow Creek will replace the former Chester A Bowles Park units in Hartford’s Blue Hills neighborhood. The remaining buildings on the site will be demolished, and replaced with new construction, a community space, management office, laundry facility, business center, and fitness facility. The mixed-income property will include 6 market-rate units and 24 units for households with incomes up to 60% of Area Median Income.