A new quasi-public state agency armed with $90 million to promote high-density housing in Connecticut downtowns and near mass transit is poised to sign off on its first low-interest loan agreement with a developer this week. The Connecticut Municipal Development Authority’s Board of Directors is scheduled to vote Thursday on a $9.36 million, 3% loan to support a $53 million redevelopment of a 3.8-acre portion of the former Bigelow-Sanford carpet mill site in Enfield’s Thompsonville neighborhood. The project, led by Avon-based Honeycomb Real Estate Partners and Windsor-based Grava Properties, will deliver 156 apartment units adjacent to the Connecticut River and near the planned Hartford Line passenger rail station. “The most important thing about telling the story about our first project is it’s now going to be real for a lot of folks and we want to make sure that they know how to get to us if they have a project that aligns with our mission,” said CMDA Executive Director David Kooris, who has spent the past 18 months establishing the agency, enrolling municipalities, and creating a framework for developer partnerships. So far, 43 communities have agreed to take part, 14 of which have finalized development districts in which the CMDA can help with planning, infrastructure and developer financing. Kooris anticipates a “cluster” of additional projects coming before the board in the next two months, with each ultimately requiring state Bond Commission authorization.

https://hartfordbusiness.com/article/new-agency-with-90m-to-support-high-density-housing-in-downtowns-and-near-mass-transit-poised-to-make-first-loan-to-developer/