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    (9/8/2011) $2.5 million in transfer of wealth to New Haven residents, women and minority workers who worked directly on this project

    (New Haven) - The Housing Authority of the City of New Haven (HANH), Trinity Financial, the City of New Haven, and its funding partners celebrated the completion of the new $36 million William T. Rowe apartment building on September 7, 2011. The “New Rowe” is an example of the Housing Authority’s and the City’s ongoing commitment to providing high quality housing for all income levels and in particular for the 40 existing Rowe residents, each of whom moved into the new development last week.

    “This is a great achievement for the neighborhood and for our residents,” said Mayor John DeStefano, Jr. “We remain committed to investing in our neighborhoods providing high quality housing and retail to support these developments.”

    The William T. Rowe development is the culmination of a public and private partnership to create a diverse, mixed-income public housing community with the benefit of retail on the first floor. It represents a holistic approach to creating a sustainable community that includes social services, economic opportunities and a revitalized environment.

    “I love my new home; it is everything I hoped it would be,” said Cameron Taylor, President Rowe Resident Association. “The Housing Authority made it easy for all us to move only once from our existing home into the new Rowe building.”

    The new William T. Rowe consists of 104 units of one- and two-bedroom apartments in a nine-story building on land that is adjacent to the existing Rowe building in the Hill section of the City. The site of the “new” Rowe was acquired through land swap agreement between Yale-New Haven Hospital and HANH.

    The building has off street parking for 88 vehicles, 2,000 square feet of first floor retail space, and 2,000 square feet of community and supportive services space for residents.

    The mixed income unit breakdown is as follows: 78 of the 104 units have been designated for households earning at or below 60% of the Area Median Income (AMI) (family of 4 earning approx. $41,800); and 26 units are market rate units. The location of the new “Rowe” took into account the needs of existing residents and incorporates an architectural design that compliments the surrounding residential neighborhood.

    Reverend Jason L. Turner, HANH Board of Commissioner vice-chair stated, “The Housing Authority understands the need for mixed-income housing and is committed to providing on-site supportive services aimed at long-term economic self-sufficiency for residents.”

    The William T. Rowe redevelopment was funded with: $13.5 million in construction and $5 million in permanent debt financing from the Connecticut Housing Finance Authority and a $10 million dollar grant provided by the US Department of Housing Urban Development (HUD). The project also received $7 million from the Housing Authority of New Haven; $4 million from the City of New Haven; $3 million from the Connecticut Department of Economic and Community Development; and $8 million equity investment by TD Bank Low Income Housing Tax Credit (LIHTC) equity investment through Enterprise Community Investment, Inc.

    Construction projects create jobs and boost the New Haven economy. The $21 million in construction value for this project resulted in $2.8 million being awarded to Small and Minority Business Enterprises and $813,000 awarded to Women Business Enterprises. This project also represents more than $2.5 million in transfer of wealth to New Haven residents, women and minority workers who worked directly on this project in its construction.

    Over the past five years, HANH along with its funding partners have invested $133 million in new construction projects for a total of 318 units and an additional investment of $67 million in rehabilitation projects impacting approximately 1,350 units. These projects have all greatly enhanced the livability of many New Haven neighborhoods and has provided additional economic impacted to New Haven’s economy and its residents.

    The new William T. Rowe is part of a broader $700 million investment in the HillMedical District area which includes the Smilow Cancer Center, 55 Park Street and 2 Howe Street. These projects have created thousands of construction and permanent jobs. and is also creating the need for additional mixed income and mixed use housing developments in the community. This project’s proximity also compliments the Three Sisters Condominium development completed by the City in late 2008 and that created twelve mixed-income condominium units.

    “Rowe Apartments will create opportunity for its low- and moderate-income residents through excellent access to jobs, health services and downtown New Haven,” said Charlie Werhane, president and CEO of Enterprise Community Investment.

    Contact Name: Adam Joseph

    Contact Email: AJoseph@newhavenct.net

    Contact Phone: 203-946-8200

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