Several communities in Connecticut are set to benefit from a significant boost in affordable housing. More than $11 million in federal tax credits have been allocated to six renovation or construction projects across the state, enabling the development of nearly 500 apartments, with almost 90% designated as affordable housing.

Funding and Development

The funding primarily comes from the 9% Low-Income Housing Tax Credits (LIHTCs), administered by the Connecticut Housing Finance Authority (CHFA). CHFA’s Chief Executive Officer, Nandini Natarajan, emphasized the importance of the Low-Income Housing Tax Credit program as a crucial resource for financing affordable housing in the state. The program not only facilitates new housing opportunities but also attracts significant private investment alongside public funding.

The projects are spread across various locations in Connecticut, including Cromwell, Farmington, Hartford, Naugatuck, and New Britain. Notably, the Mary Shepard Place in Hartford and the Mount Pleasant Redevelopment in New Britain will involve demolishing existing affordable housing to make way for new apartment constructions on the same sites.

Community Impact

In addition to providing affordable housing, the projects in Farmington and Cromwell will include a total of 62 apartments specifically reserved for clients of the state Department of Developmental Services (DSS). This initiative reflects Connecticut’s broader efforts to support housing choice, strengthen communities, and ensure that residents across various income levels have access to quality housing.

Connecticut Department of Housing Commissioner Seila Mosquera-Bruno highlighted these developments as part of the state’s commitment to enhancing housing options and community resilience. By leveraging both public and private resources, these projects aim to address the housing needs of Connecticut’s diverse population.

Original reporting: The Connecticut Mirror — read the source article.