BERLIN — Berlin’s former Knights of Columbus building will soon be renovated into two new buildings containing 70 affordable homes for residents 62 and older thanks in part to newly received state funding. The Connecticut Department of Housing and the Connecticut Housing Finance Authority have finalized financial agreements for 10 housing developments across the state. Locations of these developments include Berlin, Enfield, Fairfield, Hamden, Morris, Salisbury, Simsbury, Suffield and Waterbury. In Berlin, 143 Percival Avenue will be transformed with the help from the DOH providing $8.75 million through the FLEX program, and the CHFA is allocating 4% LIHTCs expected to generate approximately $8.8 million in private investment, along with $7.9 million in tax-exempt bond financing and $1 million from the Opportunity Fund. The Berlin transformation will include a large common room, outdoor terrace and 90 parking spaces, which is adjacent to the town’s recreation property and walking trail. “Housing challenges look different from one community to the next, which is why flexible financing tools and strong partnerships are so important,” said Nandini Natarajan, CEO and Executive Director of CHFA. “These developments will create new opportunities across Connecticut while preserving existing housing, attracting private investment and strengthening neighborhoods for the long term.”
$8.7M IN FUNDING FOR SENIOR HOUSING: Former Knights of Columbus building being renovated into ‘affordable housing’
