HARTFORD, CT) – Governor Dannel P. Malloy today announced that the State of Connecticut is making dramatic new investments in affordable housing across the state, with several projects anticipated to receive nearly $78 million in state bond funding in an effort to help towns and cities foster economic growth, create livable communities, and attract businesses.
The investments build on the already considerable expansion of quality, affordable housing the Governor has initiated over the past several years in communities statewide. Since the beginning of the Malloy administration in 2011, the state has provided funding to build 17,897 housing units across Connecticut. In just 2015 alone, the state made investments to help create, rehabilitate, and preserve 11,881 housing units statewide.
“This is all part of a massive, long-term revitalization strategy, which is why we’re doing more on housing than ever before. It’s key to economic growth. As we expand access to quality, affordable housing, we’re creating more livable communities and making ourselves more attractive to companies,” Governor Malloy said. “The availability of affordable housing is an economic driver that attracts business and jobs, and makes communities more vibrant places to live, work, and raise a family. If we want to have a quality workforce, and if we want to be economically competitive, it’s important to have quality housing.”
“In visiting these developments and many others in cities and towns throughout Connecticut, it is clear that these investments have a great benefit to our communities and the state as a whole,” Lt. Governor Wyman said. “Ensuring that our labor force can live in the towns where they work and that we have an eye on the whole picture – transit, commerce, green space, and housing – makes Connecticut a stronger and more competitive state.”
“We’re making real progress across the state and building affordable housing at an unprecedented rate,” Department of Housing Commissioner Evonne M. Klein said. “Governor Malloy has made housing creation a priority and these strategic investments are good for the residents of our state, good for the economy, and good for local business. What we know is that when people have access to quality, safe, and affordable housing it’s a cost saver. It provides stability to our states most needy who tend to cycle in and out of expensive public systems like emergency rooms and jails.”
The package of nearly $78 million in investments are scheduled to be approved at Friday’s meeting of the State Bond Commission, which is chaired by Governor Malloy. The projects include:
Statewide
- $17,150,000 to advance Connecticut’s goals to end homelessness, expand the stock of affordable housing statewide, and assist with accessibility home modifications for the elderly and people with disabilities.
Bridgeport
- $675,000 grant-in-aid to Habitat for Humanity of Coastal Fairfield County to assist with construction of nine single family homes to be sold to homebuyers at or below 80 percent of area median income in Bridgeport.
- $5,000,000 loan to Block 912 JV, LLC to assist with redevelopment of the Jayson and Newfield buildings in Bridgeport. The project will contain 104 mixed-income units with 27 affordable units. The loan will be provided at 0.5 percent for forty years with principal deferred.
- $2,156,300 loan to Mutual Housing Association of Southwestern Connecticut, Inc., or another eligible applicant as such term is defined in Section 8-366m of the Connecticut General Statutes, to assist with rehabilitation of 32 units of rental housing at Maplewood Court Apartments in Bridgeport. The loan will be provided at one percent for forty years with payment due at maturity.
(State Police Press Release)
