Major Berlin Housing Project Secures Key Financing

State of Connecticut

BERLIN, CT — New housing financing deals by the state were announced recently, agreements that will result in the creation of housing in several Connecticut towns, including Berlin.

The Connecticut Department of Housing (DOH) and the Connecticut Housing Finance Authority (CHFA) announced July 31 that they have signed financing agreements for nine developments that will contribute to the creation or preservation of 478 housing units.

These developments will include 336 affordable units for low- and moderate-income renters, of which 57 will be designated as permanent supportive housing.

One of those developments is the Steele Center in Berlin, which will feature 52 multi-family apartments, offering a mix of studio, one-bedroom, and two-bedroom layouts.

"Conveniently located next to the Berlin train station, the transit-oriented development is accessible to major employers in the Berlin area," wrote the state.

Through the Build For CT program, CHFA is providing a $2 million loan to a development that will include 16 apartments that are deemed affordable to households.

Other developments are located in Goshen, Meriden, New Haven, Norwalk, Rocky Hill, Terryville, Stamford, and Willimantic.

DOH is providing over $32 million in loans and grants, and CHFA is providing low-income housing tax credits (LIHTC) that will generate more than $55 million in private investment along with $9.1 million in first mortgage financing.

“We’re doing everything possible to accelerate our development efforts so we can continue building stronger, more resilient communities across Connecticut,” said Seila Mosquera-Bruno, Connecticut Housing Commissioner. “These investments reflect our values and commitment to providing housing our residents can afford, at all income levels, and at different stages of life. We’re excited about these projects and look forward to seeing these homes occupied with Connecticut families.”

“Housing is foundational to opportunity and economic stability,” said Nandini Natarajan, CEO of CHFA. “These recent closings – from new construction in Stamford and Norwalk to revitalization in Willimantic – reflect the creative, locally grounded solutions needed to meet the complexity of housing need across Connecticut.”

For more information on the program, click on this link.