State Announces Housing Financing For 13 Towns, Including Windsor

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

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 Windsor, the agreement will help finance the Shad Run Terrace Housing modernization project.

The DOH will allocate $2 million in federal Community Development Block Grant dollars to fund the renovation of 52 units to address:

• The installation of new energy-efficient windows.

• Installation of new energy-efficient exterior doors and hardware.

• Replacement of storm and screen doors.

• Installation of new vinyl siding.

• Replacement of asphalt shingle roofing and gutter systems.

• Replacement of unit heat pump/mini-split systems.

The town has already invested $60,000 in architectural design and $14,000 in environmental testing on the site.

The complex is part of the State’s Sponsored Housing Portfolio.

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.