More than $60 million in state funding is being distributed to 14 affordable housing projects across the state.
One is the Brookfield Village project at Route 202 and Station Road. Department of Housing Commissioner Evonne Klein says a 48-unit mixed-use, mixed-income development will be created with 43 of the units restricted as affordable housing. The project will consist of two three-story buildings. The site is also adjacent to a local HARTransit bus stop with service to New Milford and Danbury.
The Department will provide up to $4.5 million and the Connecticut Housing Finance Authority will provide $4.6 million in tax exempt bond financing to Brookfield Village, LLC. 43 of the 48 units will be restricted as affordable housing in this community and will be targeted to families with 25%, 50%, and 60% of the area median income.
New construction and renovations at East Street Apartments in New Milford will receive some funding. Dakota Partners will work with National Park Service historic guidelines to create 38 apartments. 30 of the units will be available to people with incomes less than 60-percent of the area median income. Sustainable design features include measures to reduce impact on the town's storm drains and make use of new natural gas infrastructure.
The Connecticut Housing Finance Authority has awarded $6.2 million in 9% LIHTC equity and the Department of Housing will provide up to $4.2 million in state capital funds.
After 15 years, the development will be converted to condominiums and tenants will have rights of first refusal to purchase their units. Relocation assistance will be provided for tenants who choose not to purchase.
