Partnership with West River Self-Help Investment Plan (West River SHIP) to produce 56 affordable apartments
NEW YORK, Dec. 12, 2023 /PRNewswire-PRWeb/ -- NHPF, a national not-for-profit provider of quality affordable housing, announced today that it has closed on $30M of construction financing for Curtis Cofield ll Estates in New Haven, CT. This new construction on vacant land purchased from the City of New Haven, marks NHPF's first foray into the City. The development is in partnership with West River SHIP, an investment group based on the doctrine of the late Reverend Dr. Leon H. Sullivan, pastor of the Zion Baptist Church in Philadelphia, whose principles address racial and economic emancipation through participation in profit-making initiatives by minorities that have been traditionally deprived of involvement in substantial capitalistic endeavors.
The 56 units of new affordable housing will be available for 44 households at or below 60% AMI and twelve affordable to residents at 100% AMI. Of the 44 low-income households, another 14 are reserved for supportive housing. The development will be spread across 11 townhouse style buildings and will range in size from one to three bedrooms. There will be 62 on-site surface parking spaces with four electrical vehicle charging ports. The property will offer approximately 580 square feet of commercial space for a coffee shop/bakery to be run by a minority-owned operator. The site will also include a 2,700 square foot community center, ancillary office space, a playground, and an outdoor gazebo.
"We are pleased to recognize the namesake of the project, the late Rev. Dr. Curtis Cofield II, who was considered the 'dean' of Connecticut's black Baptists and a stalwart advocate of New Haven's homeless and people with AIDS; he was the former leader of West River SHIP and visionary of this development," said NHPF's Micah Hunter, lead developer of the project who added that the site was a 40+ year vacant failed Urban Renewal highway project in need of revitalization.
Sustainability is at the center of the project. All buildings will be built to Zero Energy Ready Home and Passive House Design standard for energy efficiency and conservation of resources to achieve between 50%-90% energy savings, plus solar paneling. It will be 100% electric and have no gas connections.
"Like cities across the nation, New Haven is facing an affordable housing crisis and it's projects like Curtis Cofield II Estates that are providing the much-needed affordable and deeply affordable units our residents and city need to meet the demand – and, importantly, doing so in a way that prioritizes the community and environmental sustainability," said New Haven Mayor Justin Elicker. "This project is part of our comprehensive plan to expand affordable housing opportunities in New Haven and will transform a long vacant lot into a model 56-unit housing development that will also provide other important benefits and amenities to West River residents, including supportive housing options, commercial retail space, a community center and a playground. It's been a great collaboration with NHPF, West River SHIP and so many other partners, and I look forward to the groundbreaking."
Financing sources include the following:
Citizens Bank construction bridge debt
9% LIHTC Equity from Royal Bank of Canada (RBC)
CT Department of Housing (DOH) FLEX and NHTF funding
CT Housing Finance Authority ((CHFA) CMF and Opportunity funding
CHFA State Housing Tax Credit Contribution (HTCC) program funding
The City of New Haven ARPA ad HOME funding
Federal Home Loan Bank of Boston funding (FHLBB)
CT Energy Rebate commitment
The development is in one of New Haven's priority Neighborhood Revitalization Strategy Areas. A key component of the Comprehensive Plan for the Hill/West River neighborhood is the development of affordable housing communities combined with retail, services, and amenities that improve quality of life for residents.
Added Anthony B. Dawson, President West River SHIP, "Breaking the ground for Curtis Cofield ll Estates has been 22 years in the making and we couldn't have reached this crucial juncture without the help of many government officials including Governor Ned Lamont, CT Department of Housing Commissioner Seila Mosquera-Bruno, CHFA Chief Executive Officer Nandini Natarajan, Commissioner of the Connecticut Department of Economic and Community Development Alexandra Daum, New Haven Mayor Justin Elicker, New Haven Board of Alders President Tyisha Walker-Myers, City agency Livable City Initiative, and community groups like West River Neighborhood Service Corp., The Hill and the Dwight Neighborhood Management Team, Friends of West River Peace Garden, and Yale New Haven Hospital and Yale University Law School."
New Haven, like many cities across the nation, has seen an increase in rents after the Pandemic forcing many working-class individuals to pay more than 30% of their income on rent and some to lose their homes.
"With Curtis Cofield II Estates, the City is making a strong statement about growing together and reconnecting communities long divided by the never-completed Route 34 expressway. Our partners at NHPF and the West River SHIP have not only focused on project delivery, but also on restoring a sense of community," said Michael Piscitelli, Economic Development Administrator. "Thank you to our Livable City Initiative and technical staff for supporting this transformational development in the West River neighborhood."
Local social service agency Columbus House, offering solutions to homelessness since 1982, will be the supportive services provider for the 14 supportive housing units. Operation Pathways will provide resident services for the project as well providing a Resident Services Coordinator to serve all residents of the property.
"Investments in affordable housing like Curtis Cofield Estates ll ensure a future where residents of strong communities can thrive without worrying about a roof over their heads," Alder President Walker-Myers, a stalwart supporter of the development said. "This project is a priority project for the 23rd Ward and I couldn't be prouder to support our local West River SHIP group for their first project within the City. We also share The NHP Foundation's firm commitment to provide safe, quality housing."
Construction on Curtis Cofield ll Estates, located at 714-802 Rev. Dr. Martin Luther King Jr. Blvd., 669-767 Legion Avenue, and 90-108 Tyler Street, New Haven, began December 4, 2023.
Media Contact
marijane funess, nhpf, 19148303754, [email protected], www.nhpfoundation.org
SOURCE NHP Foundation
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