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Gov. Dannel P. Malloy announced Thursday $18 million in grants and loans for affordable housing developments in cities and towns across the state, including two in southeastern Connecticut.
“Increasing the availability of affordable housing is a top priority because the benefits extend far beyond the families and communities immediately impacted,” Malloy said in a press release. “More and more, we understand the economic results — studies show that affordable housing increases spending and employment opportunities, boosts revenue for local governments, and reduces foreclosures and the negative associated costs.”
In New London, Londonberry Gardens at 220 Third Ave., which is owned by Vesta Corp., will receive $4.8 million for new windows, interior upgrades to kitchens and bathrooms, exterior building improvements and high-efficient central gas boilers. The property has 86 rental units in 11 two-story buildings that were built in 1956.
The Norwich Housing Authority will receive about $375,000 for Sunset Park, rental units off Elizabeth Street Extension.
Other cities and towns that will receive affordable housing development funds include Danbury, Hartford, Westport, Bristol, Enfield, Glastonbury, Middlefield, Naugatuck and New Britain.
“We are proud to be part of the team working to strengthen the state’s housing portfolio,” said Eric Chatman, president and executive director of the Connecticut Housing Financing Authority.
Malloy has made a commitment to investing $500 million over 10 years in affordable housing.
The distribution of the $18 million will require approval by the State Bond Commission, which meets next on Dec. 13.
— Johanna Somers