This vacant lot on North Main Street will be the site of a new 10-unit affordable housing complex. The State Bond Commission just approved a $1.3 million allocation for its construction by Neighborhood Housing Services.
December 17, 2011
AFFORDABLE HOUSING UNITS
FUNDED STATE BOND PANEL OKS $1.3 MILLION
By Mike Patrick, Republican-American
WATERBURY — The State Bond Commission approved a $1.3 million allocation Friday for the construction of an affordable housing complex on North Main Street.
State Rep. Larry Butler, D-72nd District said the units are targeted for low-income families whose incomes are 25 to 50 percent of the area's median income.
"The expanded housing will help with the revitalization of the neighborhood near the new Jonathan Reed School and PAL," Butler said.
The bond money will be used to construct 10 three-bedroom rental units on a vacant lot at 885 North Main St.
The project by Neighborhood Housing Services is estimated to cost $2.4 million, with the balance coming from a $500,000 Connecticut Housing Finance Authority tax credit and the balance from city of Waterbury HOME funds.
Butler said another positive aspect of the project is that it will create or retain around 31 construction-related jobs.
"This is what the city fathers were envisioning when they were trying to rehabilitate the North End — a multiple approach," NHS Executive Director Owen Quinn said. "Not only new housing, new schools and a new athletic facility but taking a dramatic step in the revitalization of a key neighborhood in the city of Waterbury."
Quinn said three potential contractors are refining their bids and he expects them to submit them before the holidays. He said a bid is expected to be awarded by January and ground broken on the project by spring.
This vacant lot on North Main Street will be the site of a new 10-unit affordable housing complex. The State Bond Commission just approved a $1.3 million allocation for its construction by Neighborhood Housing Services.