Governor Dan Malloy announced on Thursday that the Department of Housing will provide up to $3,598,912 to assist Bridgeport Neighborhood Trust’s affordable housing project Downtown.
From Malloy:
The CHAMP program, which is administered by DOH, provides developers and owners of multifamily affordable housing the necessary gap financing to create more affordable units in their developments.
Since 2011, the state has created, rehabilitated, and preserved 9,636 affordable housing units. An additional 3,235 affordable units are under construction, and funding commitments are in place to create approximately 5,200 more units. The state’s investment in affordable housing totals about $1 billion dollars–a testament to the high level of commitment that is being made to prevent and end homelessness, while ensuring every resident has a place to call home. This investment in the housing industry has spurred another $2.5 billion in direct economic activity across the state.
The recipients of the tenth round of financing under the CHAMP program includes:
Bridgeport: West Liberty Commons–DOH will provide up to $3,598,912 to assist Bridgeport Neighborhood Trust in the development of 18 apartments, including 14 affordable units targeted to households with incomes at 25 percent, 50 percent and 60 percent of the area median income and four market rate apartments. The development will be located on West Avenue, within the Division Street Historic District, which is listed on the National Register. The location is in close proximity to parks, schools, and amenities, and is within one-half mile of the Bridgeport Multimodal Transportation Center, which includes a major railroad station, regional bus service, and ferry service to Long Island. The development is on the western edge of downtown Bridgeport, within the boundaries of the Bridgeport Urban Enterprise Zone, and will be supported by both a tax deferral and city HOME funds. Additional funding will be provided by the Federal Home Loan Bank, through its Affordable Housing Program, and People’s United Bank.
well the old down town was killed when the powers to be surrounded it with low income housing units
My God. $200 k a unit? Who do they know in City Hall?
Get back to the neighborhoods, people
Or is it $300 k a unit with the land subsidy and other grants figured in?
Oink oink!
This is the foolishness that is happening in Bridgeport. More “affordable” units in downtown while the rest of the city is rotting away.
Back many years ago downtown was killed by the bleeding hearts wantin affordable housing near downtown.
We had father Panik Village, Green apartments and Pequannock apartments and on the periphery Marina Vilage. Hold ups, muggings and gangs hanging downtown effectively killed downtown.
Panik is gone Pequannock is gone and marina is going. 5 years from now down town will be the zoo it once was.
STUPID STUPID STUPID………….YOU JUST CHASED AWAY THE PROFFESIONALS…..AFFORDABLE HOUSING DOWNTOWN IS A BLUNDER…….1 STEP FORWARD 3 STEPS BACK….
SO YOU MIGHT AS WELL ADD THE DOLLAR STORE
Please drive by West Liberty Commons and see for yourself how it looks and its location.
Ron..does West Liberty have residents yet?
i wonder who will be the four residents who will be “paying” market rates while the rest of the inhabitants are subsidized in some way.
The city’s West Liberty Commons will receive up to $3,598,912 from the Connecticut Department of Housing to assist Bridgeport Neighborhood Trust in the development of 18 apartments, including 14 affordable units targeted to households with incomes at 25 percent, 50 percent and 60 percent of the area median income and four market rate apartments.
Frank, no and it’s across from the drive up window of Walgreens.
Where’s the affordable housing in Bridgeport? My son and his fiance pay $1100 a month on the west end for a one bedroom apartment. Affordable?
Sounds like the apple did not fall from the tree