Brooks and Dickinson photo and rendering
924 Grand Ave. before and after the proposed Y2Y buildout.
Despite Gov Ned Lamont’s declared “debt diet,” New Haven emerged from the latest meeting of the State Bond Commission with $8.9 million for local affordable-housing and social service projects.
The commission voted Thursday to approve borrowing to support the following New Haven disbursements, the city’s state legislators announced in a release:
• A $2.751 million loan to developer Randy Salvatore’s company to renovate the former Welsh Annex School at 49 Prince St. into 30 affordable rental apartments as part of the Hill-to-Downtown project.
• A $2.5 million grant to Youth Continuum to develop its Grand Avenue youth shelter.
• A $3.7 million loan to the housing authority’s development arm (the Glendower Group) for two new buildings (94 units total) at the new Farnam Court/Mill River Crossing redevelopment.
“Investments in affordable housing and our youth are crucial for a thriving city,” State Sen. Gary Winfield stated in the release, with similar sentiments expressed by his fellow New Haven state legislators.
“Many of our children – through no fault of theirs – have been traumatized and are now at risk. This funding will help support and shelter them so they can overcome the past and find a path to promise and prosperity for a brighter future, which will certainly benefit us all,” added State Rep. Robyn Porter.