HDF Blog

HDF invests $1.3 million in affordable senior housing in Manchester, CT

December 22, 2017 —

On December 22, 2016, HDF utilized $1,330,000 in Macarthur funding to purchase The Housing Authority of the Town of Manchester, CT Lease Revenue Custodial Receipts which is providing financing for energy improvements resulting in energy conservation across three affordable housing developments located in Manchester, CT. These three affordable housing developments contain 275 units of affordable, senior housing.

Energy conservation measures include installing electrical upgrades including LED lighting, upgrading heating systems and heating conversions (electric to gas conversions), water-conserving measures, and the addition of a solar photovoltaic system. HUD has provided the Housing Authority of the Town of Manchester an Energy Performance Contract for these properties for a term of twenty years.

This project is made possible by a partnership with the MacArthur Foundation and CT Green Bank. A $5 million program related investment by the MacArthur Foundation will support energy efficiency and clean energy in the affordable multifamily housing sector by support and expanding financing solutions for multifamily properties in Connecticut.

To learn more about this opportunity, and our other programs for multifamily developers, please visit our Multifamily Lending page or call Director of Multifamily Lending Elissa Bard at 203.969.1830 x 2010.