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The State Bond Commission has OK’d over $19 million to boost the construction of over 150 new homes statewide, and another $10 million to help first-time homebuyers.
The allocations were approved as part of a larger package of bonding asks last week.
The latter $10 million will be sent to the state’s Time to Own program, which provides down payment help for first-time homebuyers.
The latter money was requested by the new Connecticut Municipal Development Authority, a statewide quasi-public organization aimed at boosting housing production in mixed-use, walkable neighborhoods served by transit.
The authority’s request to the State Bond Commission broke down as:
- $9.36 million to the development team behind 33 North River St. in Enfield, a $53 million, 156-unit multifamily development planned for a brownfield next to the town’s planned Hartford Line commuter rail station.
- $5 million to assist in the $27 million redevelopment of The Day’s former newspaper facility in downtown New London that would bring 68 market-rate apartments, a ground-floor museum and retail spaces to 47 Eugene O’Neill Drive.
- $3 million to help convert a vacant office building into 58 market-rate apartments and ground-floor commercial space at 101 Water St. in Norwich.
- $2 million to a developer trying to convert 78-88 State St. in downtown new London into 25 market-rate apartments.
