Affordable Condos in the South End of Stamford
The Housing Development Fund has created a Community Land Trust in the South End of Stamford. The CLT will offer permanently affordable and owner-occupied condos that will be available for sale to income- eligible households. Eligible households must be first time homebuyers.
HDF’s Community Land Trust (CLT) is located at 287 Washington Blvd in Stamford. The property is currently under construction and HDF anticipates that construction will be complete in the Spring of 2022. The property will include 23 affordable condos that will be sold to income- eligible households.
- 2- and 3- bedroom condos.
- Prices range from $240,000 – $310,000 depending on bedroom number, size, and layout.
- Within short walking distance to Downtown Stamford and the Stamford train station.
- The property will offer health services through a partnership with Optimus Healthcare.
Eligible households have 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
Photo of Community Land Trust Property, During Construction:
Images of Community Land Trust Property, After Construction: (Condo size, layout, and number of bathrooms vary. (Images are computer generated and not an exact representation of finished condos. Furniture not included.)
Land Trust Description
What is a Community Land Trust?
- A community land trust is a nonprofit, community-based organization. The CLT’s mission is to provide permanently affordable housing 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.
- They 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.