Simsbury Housing Project Secures State Financing

SIMSBURY, CT — The state Department of Housing and the Connecticut Housing Finance Authority announced this week financing deals for 12 developments, including one in Simsbury.

Luminary at Simsbury Meadows, located on Hopmeadow Street in Simsbury Center, is receiving $4.5 million in financing.

It will offer 175 new rental homes, including 36 units reserved for middle-income households earning between 80 percent and 100 percent of the area's median income through the state's Build For CT program.

"The development features five residential buildings, a clubhouse with a pool and gym, and on-site parking, all within walking distance of Simsbury Center’s shops, restaurants, and services," wrote state officials in an announcement.

"With strong local employment and transit access, the community will provide a convenient and vibrant living environment for residents."

State Sen. Paul Honig, D-Harwinton, who represents Simsbury, welcomed the new financing.

"Connecticut simply doesn't have enough affordable housing, especially in certain regions of the state, and any investments and strategies to turn the tide are welcome," said Honig.

"I'm encouraged that our state is investing in Norfolk and Simsbury to create new and affordable housing to support households throughout our communities, and I'm grateful to state leaders for these investments."

Statewide, the developments being funded will contribute to the construction or preservation of 1,279 housing units.

These developments will include 550 affordable units for low- and moderate-income renters, of which 71 will be designated as permanent supportive housing.

Developments are located in Hartford, New Haven, Norfolk, Seymour, Shelton, Simsbury, Stonington, Waterbury, Westport, and Willimantic.

DOH is providing over $34.3 million in loans and grants, and CHFA is providing low-income housing tax credits (LIHTC) that will generate more than $56 million in private investment along with $15 million in first mortgage financing.

“Every investment in affordable housing is an investment in stronger, more resilient communities,” said Seila Mosquera-Bruno, Connecticut Housing Commissioner. “These developments reflect our commitment to preserve and expand housing options—whether it’s building new homes or adding quality affordable rentals.”

“Housing is at the heart of opportunity,” said Nandini Natarajan, CHFA’s chief executive officer and executive director. “We’re proud to partner with DOH to advance these developments, which bring together public and private investment to create lasting affordability. Whether serving families, seniors, or residents with supportive needs, these homes will have a meaningful impact across urban, suburban, and rural communities alike.”

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