HDF Showcases $50 Million Investment in Bridgeport

BRIDGEPORT, CT — State and municipal officials, bankers, and community leaders participated in a City-wide tour to view recent neighborhood revitalization projects financed by the local housing organization, Housing Development Fund (HDF).

“We appreciate this opportunity to showcase HDF’s work in a number of critical areas: development of high-quality rental housing, affordable homeownership, acquisition and rehab of foreclosed properties, and keeping families in their homes through foreclosure intervention,” said Joan Carty, President and CEO of HDF. “To date, we have put $58 million to good use, impacting and improving the lives of hundreds of Bridgeport families.”

HDF Board Chair John March, Fair Lending Director at Citibank added that “HDF is a great example of a public/private partnership. Through its blending of private loan funds from the banks with public subsidies from the city, the state agencies and the federal government, HDF is able to close the affordability gap for countless families and contribute in a meaningful way to the stabilization of neighborhoods.”

About the Housing Development Fund– Founded in Stamford, Conn. in 1989 as a local agency, HDF now serves towns and municipalities in Fairfield, New Haven and Litchfield counties through its three offices in Stamford, Bridgeport, and Danbury. The organization is a certified by the U.S. Department of Housing and Urban Development as a Community Development Financial Institution (CDFI), and is one of the largest CDFIs in Connecticut. In addition to its financing resources and functions, HDF provides homebuyers’ education and one-on-one counseling to help families qualify for special mortgage financing programs. HDF also counsels families facing foreclosure through special mortgage intervention programs in Bridgeport and Danbury.