The Glendower Group successfully co-developed and rebuilt this complex and outsources management of the property to Trinity Management Company.
Quinnipiac Terrace originally broke ground in May of 2005 and was funded in part by a $20 million HOPE VI grant from HUD. $33 million of additional funding was provided by non-HOPE VI sources, including $5.6 million from the City of New Haven. The redevelopment occurred in three phases with a mix of public and rental housing. Phase 1 consisted of the demolition of seven existing public housing buildings and the construction of 81 new family apartments. The total development costs for Phase 1 were approximately $28 million and were financed through a combination of HOPE VI funds, 9% Low Income Housing Tax Credits and City of New Haven funds. Phase 2 construction began in September 2006 and was completed in March 2008. Phase 2 created an additional 79 units of affordable rental housing for a total development cost of $36.4M. The third phase of development, which includes 33 units of mixed income rental housing, closed in July 2010 and was completed in May 2011 for a total development cost of $15 million. The new Quinnipiac Terrace provides housing that meets the needs and lifestyles of today’s families with appropriate kitchens, living areas, and outdoor spaces. The design maximizes private, individual entries and created private backyards in almost all units.
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Glendower Services included:
- Planning and Development
- Relocation Services
- Construction Oversight
|Type||Initial Number of Units||Number of Units Developed||Unit Type||Total Development Cost||MTW Commitment||Dollars Leveraged|
|Redevelopment/New Construction||256||193||Public Housing, PBV||$87.1M||$10.1M||$77M|
The Glendower GroupFollow
The Glendower Group (Glendower) is a nonprofit 501(c)(3) instrumentality to Elm City Communities specializing in affordable housing real estate development.
Calling all New Haven artists! Feature your work at our Ribbon Cutting with the possibility of purchase! https://www.theglendowergroup.org/art-collaboration/
If you’re a New Haven artist, click here to submit your work to possibly be featured at our Ribbon Cutting on May 31! More information here: https://www.theglendowergroup.org/art-collaboration/