Connecticut Invests Millions in Housing—Here’s Where It’s Going

The Connecticut Department of Housing (DOH) and the Connecticut Housing Finance Authority (CHFA) are investing more than $75 million in loans, grants, and tax-credit financing to support nine new housing developments across the state. These projects will create or preserve 658 homes, with 381 units reserved as affordable housing for low- and moderate-income renters.

For Connecticut residents, this means more housing options are on the way—including homes for seniors, working families, and people with disabilities—plus a chance to breathe new life into underused properties. Here’s what’s planned and how it might impact your community.

🔍 Spotlight on Key Towns

Ansonia – James O’Donnell Apartments

Ansonia will soon welcome a new 40-unit affordable housing development for seniors. Known as the James O’Donnell Apartments, this project replaces the long-vacant Pineview Manor complex and is backed by roughly $1.73 million in state funds. The community will offer one-bedroom units designed to support aging in place, helping local seniors stay close to family while also freeing up existing single-family homes for younger households.

West Hartford – The Elle at North Main

A transformative project is coming to West Hartford: The Elle at North Main will bring 172 new apartments, including 86 affordable units, to the former UConn West Hartford campus. This mixed-income development supports the town’s broader push to increase housing supply and provide more inclusive options for residents at different income levels. With thoughtful design and walkable access to shopping and transit, The Elle is expected to set a new standard for community living in the area.

New Britain – Carlson Place

Carlson Place in New Britain will introduce 90 new homes, of which 73 will be affordable. Designed to serve working families and individuals, this development reflects the city’s ongoing effort to tackle its housing shortage. As rents continue to rise statewide, these units will offer relief and stability to local residents seeking long-term housing.

Rocky Hill – West End Place

In Rocky Hill, West End Place will provide 66 new apartments, with 60 set aside as affordable housing. The development focuses on supportive housing, meaning residents will have access to case management and services tailored to promote independence and well-being. For the community, this project brings not just new homes but also a stronger safety net for vulnerable neighbors.

New Haven – Parkside Village

In New Haven, Parkside Village, a project led by St. Luke’s Development Corporation, will undergo significant renovations to preserve deeply affordable housing. At a time when rents in New Haven continue to climb, this project protects longstanding housing for low-income households, ensuring the city’s most vulnerable residents can stay rooted in their neighborhoods.

🏘️ Four More Towns Also Set to Benefit

East Hartford – Veterans Terrace III

The final phase of the Veterans Terrace redevelopment will bring 51 more affordable units, completing a 150-unit transformation of outdated public housing. Supported by over $25 million in combined funding, this project gives families modern, energy-efficient homes and helps revitalize the Mayberry Village neighborhood.

Fairfield – 131 Beach

Fairfield’s 131 Beach development will offer 40 mixed-income units, with half designated for residents earning between 60% and 120% of the area median income (AMI). It’s part of the state’s new Build For CT initiative, which focuses on creating homes for middle-income workers who often fall between eligibility gaps.

Stratford – Center School Redevelopment

An iconic local landmark, Stratford’s former Center School will be converted into a 40-unit apartment building, with 36 affordable units. This adaptive reuse project preserves the character of the building while addressing modern housing needs in a central location.

Stamford – Canal Lofts

In Stamford, Canal Lofts at 735 Canal Street will bring 78 apartments to the city’s South End. This mixed-income development is part of Stamford’s broader downtown revitalization and reflects increasing demand for housing near transit and jobs.

💡 Why This Matters to Residents

Whether you're a renter looking for a new place, a family trying to stay in town, or a senior hoping to downsize, these developments represent progress. They expand local housing options, promote economic diversity, and can reduce displacement caused by rising housing costs.

More broadly, they signal that Connecticut is finally starting to tackle its housing supply issues head-on—after years of lagging construction. With these nine projects expected to break ground in 2025, they’ll help ease pressure in towns where housing has become increasingly scarce.

📞 Looking for Housing or Local Real Estate Support?

If you're interested in one of these upcoming developments, want to explore affordable housing opportunities, or are navigating a move in Ansonia, West Hartford, New Britain, Rocky Hill, New Haven—or anywhere nearby—we’re here to help.

Whether you're renting, buying, selling, investing, or seeking property management, contact us below to speak with a local expert who knows your market inside and out.

Is Meriden Still a Seller’s Market?

Downtown Meriden is thriving with charm, growth, and real estate opportunities. Here's what's happening in the local housing market.

Let’s break down the current state of the real estate market in Meriden, Connecticut, using the most recent data as of July 26, 2025. This data reflects activity in the single-family home segment only, which gives us a clear picture of what’s happening in the owner-occupied market. Whether you're a buyer, seller, investor, or just curious about the market, this update should help you understand where things stand.

MONTHLY Sales & Pricing

Meriden's median sale price for single-family homes in June 2025 held steady at $330,000, the same as the year before. The average sale price was slightly higher at $333,543, up 6.2% from last year. This indicates that while the middle of the market is stable, some higher-priced homes may be pulling the average up.

Homes are currently selling for about $235 per square foot, a 4.4% increase from last year, reflecting appreciation in home values. The median Days on Market (DOM) is 10 days, which is extremely fast and one day quicker than the same time last year. In short: prices are stable, homes are selling fast, and values are creeping upward.

Market Activity

June saw 42 single-family home sales, which represents a 55.6% increase from the same month last year. That’s a significant jump in activity, especially considering that inventory levels remain low.

Total sales volume in Meriden for the month was over $14 million, up more than 65% year-over-year. That level of dollar volume in such a small city is notable and shows strong buyer participation.

MONTHLY Buyer Demand

Buyers in Meriden are still competing. On average, homes sold for 5.7% over asking price, matching last year’s level. This suggests strong buyer demand and competitive bidding, particularly in the mid-range price points.

Breakdown of June 2025 Buyer Demand:

• Number of Sales: 42 (up 55.6%)

• Median Sale Price: $330,000 (no change from last year)

• % Over Asking: 5.7% (same as last year)

• Median DOM: 10 days (1 day faster)

Buyer Demand by Price Range

The sweet spot for demand continues to be homes priced between $200,000 and $399,000, which accounted for over 70% of the sales in the last few months. Homes in this range sold in a median of 12 days and went 4.1% over asking.

Higher-priced homes ($400,000–$599,000) are also moving well, but slightly slower, with a median DOM of 14 days. Interestingly, even these homes sold for an average of 4.14% above asking.

On the lower end ($0–$199,000), the market is quieter. Only a handful of homes sold in this price range, and while they moved in a median of 12 days, the average premium over asking was just 2.42%.

The takeaway: homes priced correctly in the mid-market range are being snapped up quickly, often with multiple offers.

MONTHLY Inventory

There are currently only 41 active single-family listings in Meriden, and new listings are down 22.4% from this time last year. At the same time, pending sales are down 31.9%, showing a clear mismatch between supply and demand.

The market has just 0.98 months of supply, which is extremely low. A balanced market typically has 5–6 months of supply. This means if no new homes came on the market, Meriden would run out of inventory in less than one month based on the current pace of sales. This low inventory contributes to the fast sales and over-asking offers we’re seeing.

Months of Supply by Price Range

• $0–$199k: 1.5 months of supply (balanced but low activity)

• $200k–$399k: 0.75 months (very competitive)

• $400k–$599k: 1.25 months (steady demand)

• $600k–$799k: 0 months (no homes sold in this range last month despite 6 listings)

The $200k–$399k range is the most active and competitive, while higher price points are seeing slower absorption despite available inventory.

HOUSING BREAKDOWN by Beds / Price / Size

Here’s how different types of homes are performing:

• 3-bedroom homes dominate the market, with 122 sales so far this year and a median sale price of $335,000

• 4-bedroom homes followed with 49 sales and a slightly lower median price of $330,000, suggesting buyers are getting more space for the same price

• 2-bedroom homes had 38 sales, with a much lower median price of $270,000

Size-wise, most homes fall between 1,000–2,000 square feet, making up nearly 73% of the market. The average square footage across all sales was 1,566.

Most of Meriden's housing stock is older, with a median year built of 1955. This means buyers should pay close attention to the condition and potential maintenance costs of homes.

MONTHLY Price Drops

Seventeen percent of active listings in Meriden have had a price drop, with an average reduction of 6%. The median number of days until a price drop was 23 days, and once a price was dropped, homes went under contract in about 15 days.

This tells us that sellers who don’t price their homes right the first time end up needing a discount, but those who adjust quickly are still finding buyers.

By price range:

• $400k–$599k had the highest share of price drops (40%)

• $200k–$399k, while active, only saw 15% of listings drop their price

• $600k+ listings are sitting without any sales

Overall Market Summary: What Does This Mean for You?

If you're a buyer: Be prepared to act fast, especially in the $200k–$399k range. Homes are going under contract in just 10 days, often for above asking. You’ll need strong financing, a knowledgeable agent, and a clear plan. Don’t be discouraged by limited inventory — but be flexible and decisive.

If you're a seller: This is a seller’s market. Prices are holding firm, homes are moving quickly, and there’s virtually no competition in certain price ranges. Pricing your home right from the start is critical, though — listings that sit for too long are needing price cuts.

If you're an investor or flipper: The Meriden market is showing stable values and strong absorption in the mid-price range. Inventory is extremely tight, which gives you leverage if you have a move-in ready product. However, watch the high end of the market closely. Properties above $600k are sitting.

If you’re just watching the market: Keep an eye on how long homes are taking to sell and whether the number of listings begins to climb. These will be your early signals of a shift in market conditions.

Waterbury Turns Historic School into Housing with Help from State Grants

In the heart of Waterbury, a long-closed Catholic grammar school is poised for a second lifem as housing for working families and hospital staff. The transformation of St. Mary’s School into 80 modern apartments is more than a local real estate story. It’s a case study in how historic preservation, public-private collaboration, and targeted state housing grants can align to revitalize communities across Connecticut.

A Second Life for a Storied Site

St. Mary’s Catholic Grammar School, shuttered in 2018, has sat quietly on its 2.2-acre lot, until now. In 2023, the city acquired the property using federal pandemic relief funds, and now plans to sell it to Kaybar Development Corp. for $1.6 million. The New York–based firm, with deep ties to Waterbury, intends to invest up to $20 million to create 80 apartments, blending adaptive reuse of historic buildings with new construction.

The development plan includes converting the school, convent, and gym into housing while adding green space, a playground, and off-street parking. The units will be a mix of one- to three-bedroom apartments, with the proportion of income-restricted housing tied directly to how much the project receives from a new state housing initiative.

How State Housing Grants Are Driving Innovation

This redevelopment is one of the first major attempts to tap into Connecticut’s new $20 million program to support housing for health-care workers. The grant program offers flexible funding to communities that can demonstrate both housing need and shovel-ready opportunities.

In Waterbury, the proximity of St. Mary’s to St. Mary’s Hospital makes this project a natural fit. According to the developer, both St. Mary’s and Waterbury Hospital confirmed the need for local housing to support staffing retention and recruitment. Depending on how much the state contributes, ranging from $6 million to $16 million, between 50% and 100% of the units could be income-restricted to keep housing affordable.

This model demonstrates how thoughtful planning can turn targeted grants into tangible housing outcomes.

Connecticut’s School-to-Housing Movement

The St. Mary’s project is part of a larger trend: reimagining old schools as new homes. Historic schools offer strong architectural bones, central locations, and deep community roots, making them ideal candidates for adaptive reuse.

Manchester’s former Nathan Hale School is undergoing a similar transformation. In Waterbury itself, the historic Webster School was converted into apartments, showing that this model is not only feasible but desirable. These projects strike a balance between preserving the past and building for the future.

Urban Renewal with Long-Term Benefits

Turning a dormant property into active housing offers cascading benefits. Neighborhood safety and aesthetics improve almost overnight when neglected buildings are restored. Local economies benefit from construction jobs and increased population density that supports small businesses. Most importantly, residents, including essential health-care workers, gain access to stable, nearby housing.

By reducing commute times and housing stress for hospital employees, the city is also improving health care outcomes indirectly, a compelling, if often overlooked, side effect.

A Trusted Developer with Local Roots

Kaybar Development Corp. isn’t new to Waterbury. Its renovation of the historic Brown Building and Odd Fellows Hall helped redefine parts of downtown. That experience, and local credibility, will be critical in turning the St. Mary’s vision into a vibrant residential community.

The company plans to apply for state funding this August, with hopes to close on the property by December. A public hearing is scheduled for August 11, after which the Board of Aldermen will vote on the sale.

A Model for Communities Across Connecticut

The St. Mary’s redevelopment is more than a local success, it’s a template. With the right incentives, partners, and vision, Connecticut’s towns and cities can repurpose dormant landmarks into community assets.

If you're a homeowner, investor, developer, or policymaker wondering how these kinds of projects might work in your neighborhood, this is the moment to act.

Contact us below to explore how you can be part of Connecticut’s next chapter of revitalization, whether it’s buying, selling, investing, or leading community-driven development.