Malloy announces 10-year plan for expansion of state’s affordable housing stock

Gov. Dannel P. Malloy has announced a new report underscoring his plans to spend $300 million over the next 10 years to rehabilitate 340 properties with 13,800 housing units in the state’s affordable-housing stock called the State-Sponsored Housing Portfolio (SSHP).

 

“Housing is a key component of our success to get Connecticut moving again, serving as an economic driver that will build strong neighborhoods, attract businesses, create jobs, and offer residents an attractive place to work and live,” Malloy said in a statement.  “Unfortunately, Connecticut languished in its affordable housing commitments, and now is the time to revitalize these properties and strengthen our communities.  We are making the most significant commitment the state has made to affordable housing in decades.”

 

The plan recommends a schedule for investments in each property over the next decade. “State-sponsored housing has been neglected for too long.  Thanks to Governor Malloy, we now have the funds to make renovations that will improve the quality of life for residents, improve energy efficiency at the properties and make them financially sustainable for the future,” said state Housing Commissioner Evonne Klein, who also chairs the Connecticut Housing Finance Authority’s board of directors.  “The Capital Plan will guide CHFA and DOH as they make decisions to get urgently needed work completed in the most efficient, cost-effective way, while ensuring residents’ needs are addressed.”