Stamford Receives State Financing For Affordable Senior Housing Renovations

STAMFORD, CT — The Connecticut Department of Housing and the Connecticut Housing Finance Authority have finalized financing agreements for 15 developments across the state that will create or preserve 1,105 housing units, including a major renovation of affordable senior housing in downtown Stamford, according to a recent announcement.

The projects, located in communities including Stamford, Bridgeport, Danbury, New Haven and Norwalk, will include 816 affordable units for low- and moderate-income renters. Sixty-three of those units will be designated as permanent supportive housing.

The Department of Housing is providing more than $71 million in loans and grants, while the Housing Finance Authority is contributing low-income housing tax credits expected to generate $123 million in private investment, along with $26.2 million in financing.

In Stamford, Augustus Manor will undergo renovations to its 105 units of affordable senior housing under a long-term Section 8 contract.

The project is being supported by CHFA-issued 4 percent low-income housing tax credits, generating $18.6 million in private investment.

Planned improvements include full unit renovations, ADA accessibility upgrades, replacement of major building systems and free Wi-Fi for residents.

"We know our residents need and deserve high quality housing they can afford as soon as possible," said Commissioner of Housing Seila Mosquera-Bruno in a news release. "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."

The agreements also include funding for 178 additional units through the Build For CT program, a collaboration between DOH and CHFA designed to create housing for middle-income renters.