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Connecticuts New Municipal Development Authority Allocates $9.36M for Thompsonville Redevelopment
The Connecticut Municipal Development Authority, with $90M to invest, is set to approve its first loan: $9.36M at 3% interest for a $53M Thompsonville project. Honeycomb Real Estate and Grava Properties plan to build 156 apartments near the Connecticut River and a future passenger rail station. The project aims to revive the former manufacturing hub and attract commuters from nearby cities. The deal includes tax breaks, a state cleanup grant, and federal mortgage support. Twenty percent of units will be affordable, with a 40-year loan term. Construction may start this summer, targeting completion in spring 2028. The agency anticipates more projects and plans to deploy all $90M by fiscal 2027.
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