Our Projects: West Village

TCB
                Role: Co-Sponsor, Development Consultant, Management Agent
Sponsor: Greater New Haven YMCA
Financial Participants: CT Dept of Housing, CT Dept of Social Services, HUD, City of New Haven, Housing Rehab Institute, Housing Authority of New Haven, Corporation for Supportive Housing, Greater New Haven Community Loan Fund, Community Foundation for Greater New Haven, equity
Total Development Cost: $10.5 million
Total Units: 148
Type of Construction: Historic Renovation
Type of Housing: Single room occupancy units

The Central New Haven YMCA was once home to 211 small rooms rented on a weekly or monthly basis as well as athletic facilities. Over the years, the building deteriorated badly, and the YMCA could not afford to continue its operations. After several attempts to address the crisis, the YMCA hired The Community Builders in 1991 to lead a redevelopment effort.

Completed in December, 1994, the historic renovation of the building now contains 148 single room occupancy units. Each furnished residential unit contains its own kitchenette and bathroom. In addition, the building houses community rooms on each floor, the YMCA corporate offices, and space for the YMCA youth program.

TCB assembled a multi-source financing plan including funds from the State of Connecticut, long-term rent subsidies from HUD through the McKinney Section 8 program and equity raised from private investors through the Low-Income Housing and Historic Tax Credit programs.