GOV. MALLOY ANNOUNCES $19.2 MILLION TO REVITALIZE AND EXPAND AFFORDABLE HOUSING OPPORTUNITIES

GOV. MALLOY ANNOUNCES $19.2 MILLION TO REVITALIZE AND EXPAND AFFORDABLE HOUSING OPPORTUNITIES
State Funds Will Revitalize Developments in Nine Towns and Cities

HARTFORD, CT – December 10, 2014 – (RealEstateRama) — Governor Dannel P. Malloy today announced the state has awarded $19.2 million in grants to help fund 12 affordable housing developments in the State Sponsored Housing Portfolio.

“My administration has made increasing the availability of affordable housing a key component of our strategy to jumpstart Connecticut’s economy, because more housing means more jobs, revenue, and business activity,” Governor Malloy said. “We have started implementing a detailed plan for the next ten years that recommends priorities and plots out capital investments to revitalize some of the state’s existing affordable housing and make the properties sustainable for the long term.”

The state Department of Housing (DOH) is awarding the funding as part of the ten-year $300 million State-Sponsored Housing Portfolio Revitalization Initiative. This initiative is jointly administered by DOH and the Connecticut Housing Financing Authority (CHFA) to fund the rehabilitation of a portfolio of over 340 properties at which approximately 14,000 people reside. In many cases, this housing offers the only affordable option for some of the state’s lowest income residents.

“These improvement projects announced today represent just a portion of what we’ll be doing over the next several years,” Housing Commissioner Evonne Klein said. “With Governor Malloy’s ambitious vision and the strong financial commitment, in the next ten years we will transform the state’s existing housing portfolio in a way that hasn’t been seen since these developments were built.”

The project financing announced today will be distributed among the following projects:

Branford — Ivy Street Apartments: Neighborworks New Horizons will rehabilitate the 29 family units of the Ivy Street Apartments at 146 North Ivy Street. The moderate rehabilitation will include exterior and interior improvements such as heating mechanical systems. DOH will provide approximately $1,061,000 and Neighborworks New Horizons will fund reserves to address future capital needs of the project.

Bristol — Zbikowski Park: The development, which consists of 90 family units on Lake Avenue and Lilian, Salladin, Armand, and Rollinson Roads, will undergo a moderate rehabilitation, with energy efficient upgrades, interior and exterior improvements, and new mechanical systems. DOH will provide approximately $1,844,000 in conjunction with CHFA resources of $3,000,000 in tax-exempt bond financing and approximately $2,655,000 in equity from 4 percent Low-Income Housing Tax Credits. The Bristol Housing Authority will fund reserves to address future capital needs of the project.

East Hampton — Bellwood Court and Chatham Acres: The East Hampton Housing Authority will undertake the rehabilitation of these two elderly housing developments, which together total 70 units. The work at Bellwood Court, on 19 West Drive, and Chatham Acres, on Governor Bill O’Neill Drive, will include exterior and interior improvements, heating and plumbing upgrades, renovate the community room to ADA standards, and replace the emergency generator. DOH will provide approximately $1,126,000 and the housing authority will fund reserves to address future capital needs of the project.

Enfield — Woodside Park and Ella Grasso: The Enfield Housing Authority will rehabilitate these two developments, which together provide a total of 80 rental units for elderly and disabled residents at 1-40 Woodside Park and 25 Central Street in Enfield. The rehabilitation will include roof and window replacement, siding and masonry replacement or repair, fire alarm system replacement, kitchen and bathroom upgrades, and the installation of an emergency generator and security camera systems. DOH will provide approximately $2,751,000 and the housing authority will fund reserves to address future capital needs of the project.

Enfield — Windsor Court: The Enfield Housing Authority will rehabilitate this property, which comprises 40 rental units for the elderly and disabled residents at 1-40 Windsor Court. The rehabilitation will include roof and window replacement, siding and masonry replacement or repair, fire alarm system replacement, new flooring, and the installation of an emergency generator and security camera system. DOH will provide approximately $1,243,000 and the housing authority will fund reserves to address future capital needs of the project.

Hartford — 96-98 Martin Street: Sheldon Oak Central, Inc., will rehabilitate the six three-bedroom family units on Martin Street. The rehabilitation will include a newly paved parking area, exterior and interior improvements, as well as health and safety improvements and energy efficiency upgrades. DOH will provide approximately $564,000 and the owner will fund reserves to address future capital needs of the project.

Naugatuck — Oak Terrace: The Naugatuck Housing Authority will completely rehabilitate the 194 elderly units at 53 Conrad Street. The rehabilitation will include interior upgrades, hazardous material abatement, health and safety improvements and parking lots and sidewalk repairs. DOH will provide approximately $3,702,000 and the housing authority will fund reserves to address future capital needs of the project.

Portland — Quarry Heights: The Portland Housing Authority will rehabilitate the 70 one-bedroom units for elderly and disabled residents at 208 Main Street. Quarry Heights consists of seven residential buildings, one with a community room, management offices and laundry facilities. Rehabilitation work will include extensive exterior and interior upgrades. DOH will provide approximately $2,250,000 and the housing authority will fund reserves to address future capital needs of the project.

Thompson — River Mill Village: North Grosvenordale Restoration Limited Partnership will rehabilitate the 53 family units at River Mill Villiage, which is located at 4 Central Street. The work will include upgrading heating mechanicals, interior improvements, as well as exterior and health and safety improvements and other related construction activities. DOH will provide approximately $3,749,000 and the owner will fund reserves to address future capital needs of the project.

West Hartford — Flagg Road Cooperative: Flagg Road Cooperative Association, Inc. will rehabilitate the 10 family units located at 30 Flagg Road. The work will include interior and exterior improvements and the replacement of boilers, and health and safety upgrades. DOH will provide approximately $933,000 and the owner will fund reserves to address future capital needs of the project.

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