The Hollander Building development, sponsored by Common Ground Community Housing Development Fund Corporation Inc., involved conversion of a commercial building to residential including 70 units of residential housing combining market and affordable units and first floor commercial/retail space. The development funding sources include a CHFAConstruction/Permanent loan, State of Connecticut Housing Trust Funds, City of Hartford HOME Funds, State HTCC Funds, and Historic and Low-Income Housing Tax Credits utilizing a master lease equity syndication structure. Carmody served as transaction and financing counsel for the development and also provided guidance on the successful resolution of environmental issues that arose during construction.
Sponsored by Maynard Road Corporation, an affiliate of the Meriden Housing Authority, and Westmount Development Group, LLC, this development involved construction of a new 63-unit mixed-use transit-oriented affordable housing development located across the street from the Meriden rail station that was recently renovated in connection with the development of the New Haven to Springfield commuter rail system. The development included the construction of an air rights parking garage and was the first transit-oriented mixed-use development funded, in part, by the Connecticut Department of Transportation. Funding sources for the development include a CHFA Construction/permanent loan, State DOH CHAMP loan, alternative emergency financing, Connecticut Department of Transportation funding and Low-Income Housing Tax Credit equity syndication. Carmody lawyers formulated and negotiated the transaction structure for the public parking garage funding and ownership as well as serving as development and financing counsel for the development.
The development of Metro Green was sponsored by Jonathan Rose Companies and Empire State Realty Trust (f/k/a Malkin Enterprises). The development is a multi-phase transit-oriented LEED-certified residential new construction development comprising 233 units of income integrated housing units and first floor commercial space located at Henry Street and Atlantic Avenue in Stamford, Conn. Funding sources for various phases of the development included Fannie Mae financing, State DOH Housing Trust Funds; City of Stamford HOME and capital funds; Federal Tax Credit Assistance Program Funds, privately placed tax-exempt bond loan, commercial construction financing, and multiple Low Income Housing Tax Credit equity syndications. Carmody lawyers have been involved in every aspect of the Metro Green development including land use approvals, development and financing transactions, ongoing operational matters, and transactions with adjacent properties.
RBH Group sponsored the adaptive reuse redevelopment of property at 410 Asylum Street in Hartford Connecticut. The development included the conversion of an office building to a 60-unit housing development with a unique objective of providing affordable housing targeted to serving schoolteachers. Funding for the development included institutional construction and permanent financing, State DOH funding, funding from the Capital Region Development Authority, and Low Income Housing Tax Credit investment structure.