CL&P Invests In South End Housing Revitalization

The affordable housing organization Bridgeport Neighborhood Trust has received grant funding to revitalize South End properties at 99 Columbia Street, 494 Gregory Street, 540 Gregory Street. From BNT:

Bridgeport Neighborhood Trust, Inc. (BNT) received funding in the amount of $500,000 today from Connecticut Light & Power’s (CL&P), Northeast Utilities System, made available through the Connecticut Housing Finance Authority (CHFA) who administers the state Housing Tax Credit Contribution (HTCC) program. HTCC provides funds for housing programs sponsored by non-profit developers in Connecticut.

“The HTCC program is more than just cash to nonprofits,” said Thomas Dorsey, Manager, Governmental Affairs at Northeast Utilities System. “They revitalize communities and create jobs in areas that need it most, and that helps everyone in Connecticut.”

The South End Community Building Initiative is part of a larger neighborhood stabilization strategy to improve the community by restoring abandoned buildings to functional use, reducing blight, which will ultimately lead to a more vibrant community. Phase II of this initiative involves the acquisition and rehabilitation of three buildings, a total of nine apartment serving a range of income from market to very low income. The construction will be complete within eight months.

“The generous support of CL&P’s Northeast Utilities System through the Housing Tax Credit Contribution program is what is making change in the South End possible,” said Elizabeth Torres, Executive Director of BNT. “This work is not only helping transform a blighted neighborhood, but it is a critical part of our vision that every person, regardless of income, has the right to live in a safe and thriving community, where they want to live, work and raise their family.”

The mission of Bridgeport Neighborhood Trust (BNT) is to LEAD, EMPOWER and CHANGE Bridgeport neighborhoods, improving quality of life through affordable housing opportunities. To meet this challenge BNT develops affordable housing, creates healthy homes with a focus on lead remediation, and provides comprehensive homeownership counseling. For more information, visit www.bntweb.org.