Kent receives affordable housing grant
Kent is one of 20 localities that received state money to help improve affordable housing.
The state Department of Housing and the Connecticut Housing Finance Authority awarded more than $61.5 million in grants and loans to help create, rehabilitate, or expand 24 housing developments across the state. The investments will create or rehabilitate 978 homes.
Kent’s $779,000 grant will be used to help Kent Affordable Housing, Inc. develop three newly constructed affordable apartments at 19 Maple St. Extension. The project will serve households up to 50 percent of the area median income. This development is centrally located, allowing residents to walk to downtown amenities, including banks, restaurants, the library, shopping outlets and schools, according to the press release.
“The availability of affordable housing for low and moderate-income residents is a driver of economic growth and will make Connecticut a more vibrant place to work and live,” Governor Dannel P. Malloy said in a press release. “When we invest in housing, we invest in people, communities and our economic future.”
The state is also investing significant funds in the rehabilitation of the long-neglected State Sponsored Housing Portfolio. In 2014, Malloy outlined a 10-year, $300 million plan to revitalize the properties in this portfolio, which are scattered throughout the state.
Since 2011, DOH and CHFA have created, rehabilitated, or committed funding for approximately 24,332 units of housing - more than 20,000 of which are affordable to low and moderate-income individuals and families. This represents an investment of more than $1.42 billion, which has been matched by over $2.45 billion from other financial sources, including the private sector, according to the press release.