CIA funds are helping change the minds of downtown property owners who thought creating housing downtown wasn’t possible, says CMSC’s John Simone in a commentary in the Republican American.
These funds have helped owners of small downtown properties realize their buildings’ full potential through Come Home to Downtown, a program offered by CMSC through a contract with the Connecticut Housing Finance Authority, using CIA funds.
CMSC worked closely with municipal officials and the owner of a small property in downtown Waterbury during the program’s first year, offering valuable technical assistance to the owner on rehabilitating his property into housing above commercial space, and helping convince him that there is indeed a market for downtown housing in buildings like his. As a result, he’s obtained financing to renovate the upper floors of his building into 38 apartments.
CIA funds and the Come Home to Downtown program are helping building owners and municipalities understand that many people, and especially younger adults, want to live in authentic, compact, walkable places like historic downtown Waterbury. But we need to save funds from the Community Investment Act to make this happen.