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for Multifamily Rental Housing Developers

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Multifamily Bond Initiative

Date Posted: Friday, September 19, 2014
 
NEW Bond Initiative for Multifamily Rental Housing
 
CHFA is offering a Multifamily Bond Initiative to those seeking multifamily construction and/or permanent financing for the creation and preservation of energy efficient, affordable, multifamily rental housing. 
 
Projects must incorporate a minimum of 30-housing units targeted to households earning 50% of the Area Median Income or below. 
 
Projects must be located in (1) a Transit-Oriented-Development (within ¼ mile of an existing or planned commuter rail stop or CTfastrak station), OR (2) a non-exempt municipality as defined by CGS §8-30g. 
 
Interest rates will be determined by CHFA based on final underwriting and will generally range between 3.5% - 5.5%. 
 
 
You must use the new ConApp, which can be found on the CHFA website.  When using the application, click on the “Core Items”, “Financing”, and LIHTC (if applicable) buttons. 
 
Applications will be accepted on a rolling basis starting October 1st and must be submitted electronically through the state of Connecticut BizNet user Portal.