State Announces Housing Financing For 13 Towns, Including Enfield

ENFIELD, CT — State officials on Oct. 30 announced that multiple finance agreements were signed to fund much-needed housing developments in several Connecticut municipalities, including Enfield.

The state Department of Housing (DOH) and the Connecticut Housing Finance Authority (CHFA) said they signed financing agreements for 15 developments that will create or preserve 1,105 housing units.

In Enfield, the agreement will help finance the Enfield Manor project on Route 5.

According to the state, Enfield Manor was originally built in the 1960s as elderly housing.

That site, though, will be demolished and replaced with 99 new one-bedroom apartments for older adults.

The new three-story buildings will feature community space and improved design, preserving affordability while modernizing the state-sponsored Housing Portfolio.

State officials said, in addition to $4.3 million in funding from DOH for Enfield Manor, CHFA is providing 4 percent low-interest housing tax credits that will generate $19.7 million in private investment, $5.21 million in tax-exempt bond permanent financing, $18.6 million in tax-exempt bond construction financing, and $337,921 from the state’s Housing Tax Credit Contribution program.

Statewide, these developments will include 816 affordable units for low- and moderate-income renters, of which 63 will be designated as permanent supportive housing.

Developments are located in Bridgeport, Colchester, Danbury, Enfield, Meriden, Naugatuck, New Haven, Norwalk, Southington, Stamford, Uncasville, West Hartford, and Windsor.

DOH is providing more than $71 million in loans and grants, and CHFA is providing low-income housing tax credits (LIHTC) that will generate more than $123 million in private investment, along with $26.2 million in financing.

These financing agreements mean those developments are now ready to begin construction.

“We know our residents need and deserve high-quality housing they can afford as soon as possible,” said CT Commissioner of Housing Seila Mosquera-Bruno.

“We’ll continue to accelerate development of all types of homes from supportive, to senior, to entry-level and help create sustainable, multi-generational communities throughout Connecticut’s cities and towns.”

“These developments reflect the full spectrum of housing need in Connecticut—from middle-income and senior housing to supportive and deeply affordable homes,” said Nandini Natarajan, CEO and Executive Director of CHFA.

“Each one demonstrates the power of creativity, flexibility, and partnership in responding to the housing challenges facing our communities.”

For the full announcement, click on this link.

From Aug. 8: 'Reconstruction Work Begins On Affordable Housing Complex In Enfield'