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City staff ask planning board to back $3 million for affordable housing projects including Stamford Manor and St. John's Towers
Summary
The Office of the Mayor asked the board to authorize $3 million to the Affordable Housing Capital Fund—$2 million for Stamford Manor rehabilitation and $1 million for the St. John's Towers redevelopment—arguing the city investment would leverage sizeable state and federal funds.
City housing staff asked the Planning Board on Nov. 5 to support a $3 million infusion to the Affordable Housing Capital Fund to sustain two downtown projects.
Emily Gordon, the city’s housing planner, told the board the fund — created in 1982 — has supported more than 1,200 rental units, condominiums and shelter beds and is currently able to fund roughly 33% of pending applications. She requested $2,000,000 for Stamford Manor, a 215‑unit senior and disabled resident building in need of a comprehensive renovation, and $1,000,000 for St. John’s Towers, a redevelopment that would replace two aging towers and increase the site to 305 affordable units.
Speakers from Charter Oak Communities and development partners described the financing approach for Stamford Manor and St. John Towers: the projects rely heavily on low income housing tax credits, private debt and state funding, with the city contribution described as a modest but important "skin in the game" to unlock larger funding sources. One presenter estimated Stamford Manor could leverage roughly $36 in other funding for every city dollar invested.
Board members asked for the financing stack and sources/uses details to be circulated; presenters said documents have been shared with planning staff. The board did not record a final funding vote at the Nov. 5 session but the presentation was framed as a priority for the upcoming capital review cycle.
Next steps: staff will circulate the sources-and-uses deck and continue to coordinate with Charter Oak Communities and Heritage Housing on grant applications and CHFA/DOH processes.
