#Bridgeport Connecticut–State Senators Ed Gomes and Marilyn Moore (D-Bridgeport) welcomed a significant state investment of funds to rehabilitate affordable housing units in Bridgeport. The State Bond Commission approved $1.98 million in state funding for the project during a meeting February 1, 2017. In total the project will cost an estimated $3.39 million.
Specifically, the new bonding will provide a grant-in- aid to the Bridgeport Neighborhood Trust, Inc., to assist with the rehabilitation of 25 total units at the Bishop Place and Seaview Apartments. “I’m very supportive of any development that helps Bridgeport grow. This is a step in the right direction and I am glad the state has committed to funding such a significant portion of the project,” Sen. Moore said. “The need for affordable housing in Bridgeport is undeniable. With these renovations, low-income families, people with disabilities and seniors on fixed incomes can have better, safer places to call home,” Sen. Gomes said.
(Press Release)
This report is made possible by:
I do not understand. $3.39 million to rehabilitate 25 apartments. The fifteen on Bishop Avenue are all one and two bedrooms. I could not find information on the Seaview Apartments. The math works out to $135,600.00 to rehabilitate each apartment! One could buy a nice two bedroom condominium in a nice area of the North End for less than that. Can someone please explain how this makes sense.
Respectfully submitted.