HARTFORD — Hartford’s Frog Hollow neighborhood will see renovations to buildings for affordable housing. Thanks to a $2.8 million loan from the Department of Housing.
The loan was granted to the Mutual Housing Association of Greater Hartford, Inc. to assist in the moderate rehabilitation of an existing thirteen building development. The project includes 68 affordable residential units. In addition, 21 affordable units will be created.
The loan package is a part of the latest round of funding under the state’s Competitive Housing Assistance for Multifamily Properties or the CHAMP program. The $22 million in awards will help create, rehabilitate or preserve housing and expand access to multi-family units across the state. This is the state’s effort “to prevent and end homelessness.”
Other cities that receive grants include New Haven and Waterbury.
The CHAMP program in these cities provides developers and owners of multi-family affordable housing the necessary gap financing to create more affordable units in their development, officials said.
The goal is to incentivize developers to create more affordable housing.