CHFA Awards $14.8 Million in Federal Tax Credits to Develop 550 Rental Homes

Ten developments to receive funding to expand affordable housing options across Connecticut.

(ROCKY HILL, Conn.) – April 24, 2025 – The Connecticut Housing Finance Authority (CHFA) today announced the award of $14,841,228 in federal 9% Low-Income Housing Tax Credits (LIHTC) to ten multifamily housing developments across the state. The 2025 awards are expected to generate approximately $135 million in equity from private investors and support the development of 550 rental homes, including 480 affordable units and 70 market rate units.

“This year’s LIHTC awards represent our continued commitment to creating vibrant communities and increasing access to housing that meets the needs of families and individuals across Connecticut,” said Nandini Natarajan, CHFA’s Chief Executive Officer – Executive Director. “The selected developments reflect thoughtful planning and deep collaboration between public and private partners.”

The ten developments include eight in the New Construction Classification and two in the Preservation Classification, which is focused on rebuilding existing affordable housing communities while maintaining service for current residents.

“Multifamily is critical to our strategy of expanding access to housing for all income levels and life stages including older and younger generations,” said Seila Mosquera-Bruno, Chairwoman of CHFA’s Board of Directors and Commissioner of the Connecticut Department of Housing. “These projects reflect our shared goal of creating more equitable housing opportunities, in every corner of the state.”

Highlights of this year’s awards include:

• Six developments located in municipalities with less than 10% affordable housing, helping to expand access to high-opportunity communities.
• Eight developments offering supportive housing for individuals with disabilities or experiencing homelessness, with rental subsidies through the Department of Developmental Services (DDS) or the CT811 program.
• Three developments located in Eastern Connecticut.

Preservation efforts include the full redevelopment of West Hartford Fellowship Housing Phase III and Oak Park Phase 2, ensuring continued affordability for 120 households while incorporating modern energy-efficient features.

The awarded developments span Avon, Fairfield, Glastonbury, Griswold, Montville, New London, South Windsor, Stamford, West Hartford, and Windsor Locks. In total, the State Department of Housing is committing approximately $63.8 million in financing, further amplifying the impact of the federal tax credits.

The LIHTC program, administered by CHFA, is a federal initiative that incentivizes private investment in affordable housing. Developers sell the credits to investors to raise equity and combine them with public and private financing. Since the program’s inception in 1986, it has supported the creation of over 30,000 affordable homes in Connecticut and contributed nearly $6 billion in statewide economic activity.

Below are the ten 2025 LIHTC Awardees listed by town.

New Construction Classification

The Homes at Avon Park – Avon Part of a larger mixed-income community, this 73-unit development reimagines a former office park. With 15 supportive units for DDS clients, it’s located near retail, transit, and open space. All buildings will meet NGBS Emerald standards, and the project includes broadband access and resident services.

The Judd Homestead at Russo Estates – Fairfield A 40-unit, 100% affordable development in a very high opportunity area of Fairfield, Judd Homestead will include 10 supportive housing units. With a strong emphasis on green design and family-sized units, it represents a significant step toward affordability in a high-cost market.

55 Nye Road – Glastonbury This 64-unit development in Glastonbury includes 13 supportive housing units and is set in a highopportunity area with limited affordability. Developed by the local housing authority, the community will include energy-efficient features and solar installations through the Green Bank RRES program.

Oak Tree Village II – Griswold The final phase of a larger initiative, Oak Tree Village II will deliver 60 new homes, 48 of which are affordable. Twelve units will be supportive, with 11 receiving CT811 rental subsidies. The site is adjacent to schools and continues the successful momentum of Phase I. Horizon View – Montville This 57-unit building in Eastern Connecticut will provide 12 supportive housing units in a moderate opportunity area.

Horizon View features Zero Energy Ready Home design and green building practices. Located on 3.4 acres, it provides a much-needed infusion of affordability and sustainability.

66 Union – New London Built on the site of a collapsed historic church, this 46-unit downtown New London development includes 10 supportive housing units. With walkable access to transit, grocery stores, and healthcare, the project blends affordable housing with community-centered design, including a rooftop terrace and exercise room.

240 Deming – South Windsor Located on a former church site, 240 Deming will bring 55 new homes to a very high opportunity area with limited affordable housing. Thirteen units will offer supportive services for individuals with intellectual disabilities, supported through DDS. The development includes garden-style buildings, private outdoor space, and is walkable to community amenities.

Windsor Locks TOD Phase 1B – Windsor Locks This transit-oriented development will add 35 new homes steps from the town’s new $65 million train station. Designed to enhance Main Street vitality, the project includes 28 affordable units and connects residents to jobs, services, and walkable amenities.

Preservation Classification

Oak Park Phase 2 – Stamford Oak Park Phase 2 will redevelop 43 aging units in Stamford, preserving deeply affordable homes while upgrading to meet modern energy and design standards. The redevelopment supports a vibrant, connected community.

West Hartford Fellowship Housing Phase III – West Hartford This redevelopment will replace aging units with 77 new, fully affordable homes, ensuring continued housing stability for existing residents. Located near transit, shopping, and a senior center, the project incorporates modern sustainability measures and universal design.

For more information about the LIHTC program and 2025 awardees, visit www.chfa.org.