Should Stamford build more affordable housing or build it faster? Developer argues quantity

The question before zoning officials now, in part, comes down to timing. Sound End developer Building and Land Technology argued at the board’s Sept. 27 meeting that more housing was an essential step in solving the local housing crisis. BLT in 2019 obtained approval from the zoning board to build two high-rise buildings in the Sound End. Less than a year later, in January 2020, the board approved a $5.7 million payment meant to partially cover the developer’s affordable housing obligations in the city. Yet, even with that payment, BLT fell short of fulfilling its affordable housing responsibility. Housing Trust fund, a procedure that is now a standard part of Stamford law. With the trust, developers who choose to pay instead of building affordable units pass their money on to the fund, and interested parties can make bids and put forth proposals. According to the trust itself, the end goal is to create more diverse kinds of affordable housing.

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