News release from Connecticut Housing Partners:
Connecticut Housing Partners (CHP) has begun a $19.5 million rehabilitation of Yale Street Commons, a 44-unit affordable housing community in Bridgeport’s West End. Work is now underway on the extensive renovation, which is expected to take approximately 12 months to complete.
Built in 1998, Yale Street Commons includes four residential buildings with one, two, three and four bedroom apartments for low- to moderate-income families. The project will completely renovate the community inside and out, extending the life of 44 affordable homes while providing residents with updated, more energy-efficient places to live.
“Families have called Yale Street Commons home for nearly three decades, and this investment is about making sure they have homes that continue to meet their needs,” said Renée Dobos, CEO of Connecticut Housing Partners. “These are people’s homes and we want them to feel the difference when they walk back through their door. We’re excited for them to return to completely renovated spaces that are more comfortable, more energy efficient and designed for the way families live today. New kitchens and bathrooms, appliances, flooring, windows and other upgrades will make a real difference in their everyday lives.”
The extensive rehabilitation will include new doors, windows, garage doors; completely renovated kitchens and bathrooms outfitted with new appliances and fixtures; new flooring throughout the apartments; energy-efficiency upgrades; ADA-related improvements; and renovation of the community room.
For residents, the work will happen without taking away the place they call home.
Renovations will take place one building at a time to minimize disruption for residents. As work begins on each building, residents will temporarily move to available apartments at Park City Place, another CHP community in Bridgeport. When their building is complete, residents will return to their newly renovated Yale Street Commons homes.
“This is a major construction project, but behind every apartment door is a family whose life continues while that work is happening,” Dobos said. “Being able to provide our residents with another place to live nearby during construction and then welcome them back home when their apartment is finished, was incredibly important to us.”
The project comes as Connecticut continues to face a shortage of housing that families can afford. While creating new housing remains critical, reinvesting in existing communities like Yale Street Commons ensures that homes already serving working families aren’t lost from the state’s affordable housing supply.
Financing for the rehabilitation includes a 4% Low-Income Housing Tax Credit allocation and equity through the NeighborWorks Capital Equity Fund, a partnership between NeighborWorks Capital and National Equity Fund (NEF). As a chartered member of NeighborWorks America, CHP is one of seven organizations with developments supported through the inaugural $110.4 million fund, created to help NeighborWorks organizations access LIHTC equity on terms comparable to those available to large national developers. Additional funding partners for the Yale Street Commons rehabilitation include the Connecticut Housing Finance Authority (CHFA), Connecticut Department of Housing (DOH) and the City of Bridgeport.
Construction is expected to be completed in fall 2027.
