Ribbon cutting at Torrington, CT senior housing celebrates renovations of 100 % affordable property
Torrington, Ct – Torrington Mayor Elinor Carbone, Connecticut housing officials and supporters of Torringford West Apartments joined with dozens of residents to celebrate the completion of renovations at a ribbon cutting at the senior affordable housing development today.
Torringford West was originally constructed in the mid-1980s, on the site of what was once a drive-in theater. Boston nonprofit Preservation of Affordable Housing (POAH) purchased Torringford West in 2005, with the intent of eventually refinancing it and substantially rehabilitating it.
POAH was committed to maintaining the affordability of the apartments and formulated a comprehensive long-term refinancing and renovation plan while working with HUD to obtain a long-term renewal of the Section 8 contract that was set to expire in 2013.
Speakers included Torrington Mayor Elinor Carbone; Evonne Klein, Commissioner, Connecticut Department of Housing; Rob Biddleman, Vice President, Cornerstone Real Estate Advisers; and Norbert Deslauliers, Interim Executive Vice President, Connecticut Housing Finance Authority.
“Since the creation of the Department of Housing two years ago, we have seen unprecedented investment in the preservation, rehabilitation, and creation of affordable housing in our state.” said Evonne Klein, Commissioner, Connecticut Department of Housing. “Access to safe, quality, and affordable housing is important to an individual’s overall well-being, and as we all know, important to local economic development. The newly completed renovations at the Torringford West Apartments will have a lasting, positive impact on the Torrington community for years to come.”
“POAH has done a great job with the renovations to improve the quality of life and comfort of Torringford West residents,” said Norbert Deslauriers, Interim Executive Vice President of CHFA. “We also thank Governor Malloy for his commitment to affordable housing. The programs funded by his administration have made these renovations, and many others across the state, possible.”
“NAHT’s corporate mission is to help create and preserve affordable housing by providing equity capital” said Lori Little, NAHT’s Director of Capital Markets and Investor Relations. “We believe POAH does an excellent job in preserving important housing to communities and are pleased to partner with POAH on Torringford West Apartments.”
“I am honored to be here today with this wonderful group of national, state and local partners,” said POAH President/CEO Aaron Gornstein. “In addition to our funders, the assistance and support of the Mayor’s Office, fire department, planning office, and other city departments has helped make this a preservation success story. We look forward to being good neighbors for many years to come.”