HDF Blog

UHAB Joins HDF and CT Green Bank with $500K to Support Seabury Coop Development

HDF partners with CT Green Bank and UHAB to finance energy efficient and healthy/safety pre-development improvements.

The Housing Development Fund (HDF) is proud to announce that the Urban Homesteading Assistance Board (UHAB) will be providing our latest energy efficiency housing project, a joint venture with the Connecticut Green Bank (CT Green Bank) to support the Seabury Cooperative, with $500,000 in bridge loan support. Specifically, the funds provided by HDF and the CT Green Bank will go towards pre-development costs like the hiring of architects and engineers to creatively map out the replacement of the HVAC system, evaluating the inclusion of roof insulation, bidding on construction work, and investigating further areas for improvement. Building off our partnership with CT Green Bank and the MacArthur Foundation to provide Plaza on the Green with energy efficient improvements, this new triple financial partnership, with UHAB to support Seabury, will ensure the preservation of affordable, energy efficient, and healthy housing for the families and senior citizens of New Haven.

Click here to read the official press release!

 

About the Connecticut Green Bank

The Connecticut Green Bank was established by the Connecticut General Assembly on July 1, 2011 as a part of Public Act 11-80. As the nation’s first full-scale green bank, it is leading the clean energy finance movement by leveraging public and private funds to scale-up renewable energy deployment and energy efficiency projects across Connecticut. The Green Bank’s success in accelerating private investment in clean energy is helping Connecticut create jobs, increase economic prosperity, promote energy security and address climate change. In 2017, the Connecticut Green Bank received the Innovations in American Government Award from the Harvard Kennedy School Ash Center for Democratic Governance and innovation for their “Sparking the Green Bank Movement” entry. For more information about the Connecticut Green Bank, please visit www.ctgreenbank.com.

 

About the Urban Homesteading Assistance Board

The Urban Homesteading Assistance Board was born in the midst of New York City’s economic crisis of the 1970s. With landlords abandoning their buildings en masse, the city found itself with more than 11,000 buildings on hand and no idea what to do with them. UHAB became a voice for the residents living in those buildings – longtime New Yorkers who had no intention of leaving. Turning buildings over to their residents to manage began as an experiment. But soon the city was convinced that this revolutionary approach could be sustained. The first year UHAB offered training, in Harlem, residents of 200 buildings learned how to cooperatively govern and operate their own multi-family dwellings. UHAB has now assisted in the preservation of more than 1,600 buildings (comprising 1,350 housing cooperatives), creating homeownership opportunities for residents of more than 30,000 apartments. For more information, please visit http:\\www.uhab.org.