First Phase of Construction Begins at Farnam Courts
On October 19, 2016, a groundbreaking ceremony was held for New Haven's Farnam Courts, an affordable housing project for low-income families. The complex is located next to Wooster Square and within walking distance to all the downtown amenities.
The first phase of the redevelopment will replace the existing townhouses with a new multistory apartment complex. Utilizing HUD's Rental Assistance Demonstration (RAD) program, the complex will include 86 affordable apartment units and 8 market rate units with a homeownership component. The complex will consist of 24 one-bedroom, 51 two-bedroom, 8 three-bedroom and 3 four-bedroom apartment units. The property will feature a community center with after school care, computer room, conference room, park, basketball court and lower level retail space.
HUD is contributing $13.5 million for new construction and $24.8 million in rental subsidies for the first fifteen years. Additional funding is being provided by the Connecticut Housing Finance Authority, JP Morgan Chase, the Connecticut Department of Housing and Redstone Equity Partners.
|Content Archived: January 3, 2018|