CT Authorizes $10M for Downtown Housing Projects

0:00It's April 22nd. You're listening to Hartford News today, AI-powered local news. I'm Corey with the story. Connecticut's municipal development authority just greenlit $10 million in low-interest loans for housing projects in New London and Norwich. Set to add 151 new apartments to those downtowns. Earlier this week, the agency's loan committee backed three redevelopments of old buildings, including 93 units across two spots in New. London and 58 more in Norwich. Mońshten mid-2024, the CMDA pushes dense housing near transit hubs with $90 million in bonding power in dozens of towns. Already on board after their first $9.36 million loan last month. Developers are pumped, calling it a game-changer for vacant ice-sores, turned vibrant spots with retail and even a small museum, breathing life into, streets and drawing folks back to city centers. These deals head to the full board next month. Then likely sail through the state bond commission, wrapping up affordable living options

1:04just when. Connecticut needs it most.