SENATOR MAHER WELCOMES CHFA, HOUSING INVESTMENTS INAFFORDABLE WESTPORT UNITS

Today, State Senator Ceci Maher (D-Wilton) welcomed the announcement that the Department of Housing and Connecticut Housing Finance Authority will invest $6.75 million into a housing project in Westport that will deliver 157 residential units, of which 78 will be designated as affordable housing. This comes as part of a larger effort supporting more than 1,200 total housing units and 550 affordable units in Connecticut.

“We need affordable housing in our communities and throughout Connecticut to support working people and counter our lasting housing shortages,” said Sen. Maher. “I’m delighted that the Department of Housing and CHFA will make direct investments in Westport to ensure 78 more families and households will have affordable and accessible housing.”

The Westport investment will support The Village at Saugatuck, which will add three new four-story multifamily buildings. The 157 total units will see 78 designated as affordable, meant for households earning between 60 and 100% of area median income via the Build for CT program.

Each apartment will be equipped with modern appliances; CHFA is providing a $6.75 million loan through Build For CT to support the construction.

This comes as part of a larger investment of more than $34.3 million across the state, as well as $56 million in private investment and $15 million in first mortgage financing, to add more housing units to state resources. The Build For CT program, a collaboration between DOH and CHFA to support construction of affordable apartments for middle-income renters, also supported $18.75 million in financing agreements through the overall project.

Projects will undergo construction with financing agreementsin place.