Quinnipiac Terrace Phase 2 begins
(11/29/2006) FOR IMMEDIATE RELEASE:
Wednesday Nov. 29, 2006
NEW HAVEN BREAKS GROUND ON $35 MILLION PUBLIC HOUSING DEVELOPMENT
MAYOR DESTEFANO JOINS LEADERS – AND TENANTS – TO OFFICIALLY BEGIN PHASE 2 OF QUINNIPIAC TERRACE HOPE VI REVITALIZATION
New Haven: This morning Mayor John DeStefano helped to break ground on the second phase of the $65 million Quinnipiac Terrace HOPE VI revitalization project. Joining Mayor DeStefano at the ceremony were; Robert Solomon, Chairman, Housing Authority of City of New Haven; Carissa A. Riddle, U.S. Department of Housing and Urban Development; Bernard Husser, MMA Financial, Inc.; Sarah Barnat, Project Manager, Trinity Financial; and Brenda Lopez, Quinnipiac Terrace Resident.
The second phase of the Quinnipiac Terrace project will complete the redevelopment of hundreds of public housing units and finish the amazing transformation which started in 2003 – when the HOPE VI grant was awarded to the Housing Authority of New Haven.
At that time many of the units were empty and some were even boarded up.
Quinnipiac Terrace Phase 2 consists of 79 rental units. Fifty of the units will be constructed on the main site, adjacent to QT Phase 1, and 29 units will be constructed off-site on a site called "Quinnipiac Ridge." The units are financed through the use of Low-Income Housing Tax Credits (LIHTC). Additional improvements on the main site include a 7,800 square foot community center and management office and improvements to the adjacent Dover Park.
“The City of New Haven is proud to be a partner in making this important project become a reality,” said DeStefano. “Just a few years ago this was a very different neighborhood. Today there is a new school, new homes, and a new sense of community.”
"Quinnipiac Terrace Phase 2 is another demonstration of the transformation that can occur through the HOPE VI program,” said Riddle. “HUD's commitment of nearly $8 million in HOPE VI funds, $3,271,000 in Capital Funds and $713,434 in HOME funds through the City clearly shows the positive impact this will have for the neighborhood."
When the entire HOPE VI project is complete there will be two hundred and forty-five (245) new housing units. The funding for the project is approximately $65 million. Sources are:
1. HANH Capital & other funds $2.9M
2. HOPE VI - $20M
3. Low Income Tax Credit Equity- $37.5M
4. Trinity contribution for Parks - $100k
5. City of New Haven - $5.6M * includes $1.7M to ECCO & $3.9M to Trinity
6. State of Connecticut -Site Remediation reimbursement funds -$4M
The first phase of this redevelopment effort consists of 81 rental units. (58 of the units are public housing units and 23 are subject to a ten-year Section 8 contract). The approximately $28.4 million Phase I effort (including administration, community and supportive services and relocation) was funded by approximately $12 million in HOPE VI funds. Other sources for the housing component of the project include approximately $14.25 million in equity raised via the sale of 9% Low Income Housing Tax Credits to Aegon USA Realty Advisors; and, $768,000 in City HOME funds. In addition, the City of New Haven contributed $1,375,000 for public infrastructure work.
ECCO, a local faith based initiative, will construct a total of 66 units (33 new two-family structures consisting of an owner-occupied unit and a rental unit). Eight (8) structures (16 units) have already been constructed by ECCO on the Riverview site located at the corner of Lombard and Front Streets.
The original development consisted of 256 public housing units of which approximately 170 were occupied in December 2002 when the HOPE VI application was submitted to HUD. When the HOPE VI grant was awarded to HANH on March 19, 2003 there were approximately 154 families remaining in Quinnipiac Terrace/Riverview. Riverview consisted of 12 dwelling units in three buildings. The three buildings were vacant and boarded up at application and have since been abated and demolished with HANH funds.
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