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At least eight cities and towns have adopted Incentive Housing Zones and nearly 30 have at least a preliminary degree of participation in the program, said Kathryn Shafer, deputy policy director at the Partnership For Strong Communities.
Approximately million is awarded semi-annually, with applications seeking three to four times that amount, Lundgren said. The state is accepting applications for predevelopment loans up to million for properties located within a half-mile of public transit stations, said Garrett Eucalitto, undersecretary for Transportation Policy and Planning at the state Office of Policy and Management.First you need jobs and then there’s a reason for people to live there,” Vallone said. Financing is a huge component and banks are really constricted since the crash.That’s why you need government help.” Harvey Edelstein, president of Real Estate Diagnostics Inc., is building 79 units of housing in Stafford for the elderly, homeless veterans and the disabled.The median single-family sale price in February was 2,750, according to The Warren Group, publisher of The Commercial Record.That’s 1 percent below February 2015, even as sales transactions rose to their highest level in nine years.“Financial resources and political will and streamlined procedures are simply not enough.
That’s why an event like this is so important,” Lundgren said.Connecticut has the eighth-highest apartment rents in the U.S., according to a 2015 report by the National Low Income Housing Coalition.That program began as an effort to spur development near the CTfastrak dedicated bus line, but has expanded to include sites near all transit stations statewide.Towns that enact smart growth zoning will reap the rewards, predicted Vallone, the Westport architect.The program received state Competitive Housing Assistance For Multifamily Properties (CHAMP) funds and state and federal historic tax credits.