Ayala Welcomes Announcement of Expanded Affordable Housing Opportunities in Bridgeport
Investments announced today will help create 131 units of affordable housing across Connecticut
WASHINGTON, D.C. – September 25, 2014 – (RealEstateRama) — State Senator Andres Ayala joined Governor Dannel P. Malloy yesterday in announcing a significant investment in Affordable housing for Bridgeport and other communities around the state. The $10,649,077 in grants and loans will allow for the creation of 131 new units of affordable housing.
“Families who find a home in Bridgeport thanks to the work done through Affordable Housing Loan Program develop a stake in our community, supporting local businesses and sending their children to local schools,” said Senator Andres Ayala. “I am very happy that more families will find a home in our city thanks to the continued good works of Governor Malloy.”
“Increasing the supply of all types of affordable housing is one of the best ways we can build stronger communities, reduce homelessness, promote transit-oriented development and improve the quality of life for our residents,” said the Governor. “These are smart investments that are making a real difference in peoples’ lives.”
Bridgeport’s Affordable Housing Loan Program will receive $1,000,000. This grant will be provided to ComCap, a non-profit organization which has provided over $25 million and assisted in the development and rehabilitation of over 1,000 units, will provide financing for the development and preservation of affordable multi-family rental housing for low- and moderate-income families in Bridgeport. This funding will focus on financing projects in transit-oriented neighborhoods with a projected goal of developing or rehabilitating 40 units of transit —oriented rental housing with this funding.
The projects and programs are being funded through the state’s Affordable Housing Program, which provides grants, loans, loan guarantees, and deferred loans for the development and preservation of affordable housing. Funds from the program, administered by the Department of Housing (DOH), can be used for a wide array of activities including new construction, rehabilitation, demolition and the redevelopment of vacant properties. Bridgeport and the other seven recipients were chosen competitively through the DOH’s Special Priority Projects and Program NOFA.
Contact: Dan Doyle
860-240-8633
