NeighborWorks New Horizons
New Haven, CT
Project: St. Paul’s Commons
Multifamily Land Acquisition and Construction
CHC’s $6.6 million loan to NeighborWorks New Horizons (NWNH) creates 56 affordable housing units. St Paul’s Commons, a new construction development, will consist of five buildings on two scattered sites located in Bridgeport, Connecticut. This lower-income area will benefit from new, affordable housing with 100% of the units subject to Low Income Housing Tax Credit (LIHTC) income and rent restrictions. Just 0.1 miles from the Boston Avenue commercial corridor, both sites will be ideally situated near many amenities, including pharmacies, restaurants, retail shopping plazas, grocery stores, gasoline stations, banks, and medical offices. The project sites are located along popular bus routes, which connect directly to the city’s public transportation hub in the downtown area. Both sites are designed to provide landscaped courtyards, a community garden, on-site parking, and will earn the Energy Star 3.0 certification designation. St. Paul’s Commons will also provide tenants with supportive, on-site services.
NWNH provides affordable housing opportunities and revitalizes neighborhoods in New Haven, Fairfield, Southern Hartford, and New London counties and is recognized as a Community Housing Development Organization (CHDO) and approved as a Homebuyer Counseling agency. Their mission is to develop, own, and operate affordable, quality housing that builds strong, healthy, and vibrant communities. With active resident and community participation and leadership, NWNH has created over 430 units of housing since 1992.