SENATOR MARX WELCOMES $625,000 IN COMMUNITY INVESTMENT FUNDING FOR NEW LONDON PARK PLANNING, BUILDING REDEVELOPMENT

Today, State Senator Martha Marx (D-New London) welcomed the announcement that two grants, worth a combined $625,000, will be administered to New London through the Community Investment Fund program. The grant projects, respectively, include redeveloping a vacant downtown building into 40 new apartment units and the planning and design of a new public park along Atlantic Street.

“New grant funds being delivered to our community for redevelopment in key areas is welcome news, as it furthers the emphasis of investing in New London,” said Sen. Marx. “Support for dozens of new housing units, the long-term support for The Day newspaper and community planning to make sure all residents have resources for outdoor recreation and beautiful green spaces are all strong points of emphasis for New London’s future.”

As part of the Community Investment Fund’s board’s approvals of projects on September 30, the 208 State Street redevelopment project will receive $350,000 to support conversion of the vacant 20,000-square-foot structure in the downtown district into a three-story mixed-use facility, aiming to revitalize a blighted part of New London with frequently empty storefronts. The project will create 40 new apartment units, including 20 workforce housing units, and 10,000 square feet of office space for New London’s The Day newspaper.

This project is currently underway and is expected to be complete in August 2026; once complete it is expected to have constructed the new housing units, created 60 construction jobs and retained jobs at the newspaper. Sen. Marx filed a letter of support for the project.

New London will additionally receive $250,000 for planning and design on Atlantic Street for a new public park, with the intention of transforming an underutilized corridor into a new community space. The park is designed to serve the downtown residential population and create green space for recreation and community events. The funds in particular will support a site and conditions assessment, environmental reviews and development of a preliminary park design.

Established in 2021, the CIF expects to administer more than $750 million in funds to Connecticut’s public investment communities and alliance districts through the end of 2026, with hundreds of millions of dollars already provided for capital improvement and small business support programs.

After the CIF board’s approval, the funds will receive final approval from the State Bond Commission in coming months.