THE HOUSING DEVELOPMENT FUND BRINGS AFFORDABLE HOMEOWNERSHIP HOUSING TO THE SOUTH END OF STAMFORD!
The Housing Development Fund has established a Community Land Trust in the South End Neighborhood of Stamford. The CLT will offer permanently affordable condos that will be available for sale to income- eligible households.
The location of HDF’s Community Land Trust (CLT) is 287 Washington Blvd in Stamford, and is currently under construction. HDF anticipates that construction will be complete in the Spring of 2022. When completed, the property will include 22 affordable condos which will be sold to income- eligible households.
- 2- and 3- bedroom condos.
- The property is within short walking distance to Downtown Stamford.
- The property is within short walking distance to the Stamford train station.
- The property will offer health services through a partnership with Optimus Healthcare.
Condos are designated for households with incomes that are at or under 50% of the Area Median Income. Household income must be at or below the following limits:
- 2-member household: $60,720
- 3-member household: $68,310
- 4-member household: $75,900
- 5-member household: $81,972
- 6-member household: $88,044
Property Before Construction:
Rendering of Property After Construction:
What is a Community Land Trust?
- A community land trust is a nonprofit, community-based organization whose mission is to provide affordable housing permanently by owning land and leasing it to those who own and live in the residential units that are built on that land.
- A CLT maintains the property and supports residents over time. Per the requirements of its bylaws, the CLT‘s board of directors will be composed of homeowners, community stakeholders and others who support the goals and purposes of the CLT.
How do Community Land Trusts Help People?
- CLTs provide affordable housing opportunities for low- and moderate- income communities.
- CLTs provide low- and moderate-income people with the opportunity to build wealth and equity through homeownership.
- CLTs ensure that residents are not displaced due to gentrification.
- In these ways, CLTs expand equitable property development.
What Are People in the Community Saying about HDF’s Community Land Trust? Click the photo below to hear more!
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