<body><div><img src="https://img.particlenews.com/image.php?type=thumbnail_580x000&amp;url=3cWUpI_1FOubhr500" alt="https://img.particlenews.com/image.php?url=3cWUpI_1FOubhr500" width="1200" height="776" >An abandoned office park in Avon, Connecticut, is being transformed into a mixed-income residential community.Beacon Communities has begun construction on Avon Village, the second phase of the redevelopment project. The latest phase will convert a vacant office building into 76 affordable apartments.“Projects like this are the realization of Connecticut’s commitment to expand housing opportunities, increase affordability, and create communities where working families, seniors, and young people can thrive,” said Gov. Ned Lamont. “Transforming underutilized properties like this is a way that we can help address our housing challenges and make progress toward strengthening our towns while preserving the unique character that makes every Connecticut community special.”Once completed, Avon Village will feature units ranging from one to four bedrooms. Sixteen apartments will be affordable to households earning at or below 50% of area median income, while the remaining 60 apartments will serve households earning at or below 60% of the area median income. The building will also include eight fully accessible units and two units designed for residents with hearing or visual impairments.Avon Village builds on the momentum of The Homes at Avon Park, a 100-unit mixed-income development that’s under construction on the same site."We are honored to partner with the state of Connecticut on another innovative office-to-housing conversion at Avon Village," said Dara Kovel, CEO of Beacon Communities. "Thanks to Gov. Lamont’s administration and our partners in the town of Avon for their extraordinary support and vision. We’re excited to officially begin the process of turning this vacant office building into high-quality affordable homes, part of the new neighborhood we are building in the heart of Avon.”Avon Village is designed to achieve Energy Star Multifamily New Construction V1.2 standards. Planned improvements include a highly efficient building envelope, heat pump-powered heating and cooling systems, energy-recovery ventilation to support healthy indoor air quality, LED lighting, low-flow plumbing fixtures, and backup power for critical building systems.Residents will have access to a community room and kitchen, fitness and wellness spaces, bicycle storage, walking trails, gardens, a multi-use lawn, playground, outdoor courtyard and terrace, and a dog run. New walking paths will connect directly to the Farmington Canal Heritage Trail, further linking residents to the surrounding area.Financing for the $38 million project includes a combination of federal low-income housing tax credits, Connecticut Housing Finance Authority (CHFA) tax-exempt bonds, CHFA Opportunity Funds, Connecticut Department of Housing financing, and deferred developer fee. Private construction debt and equity are being provided by M&amp;T Bank. The town of Avon is also supporting the redevelopment through a 20-year payment-in-lieu-of-taxes agreement.</div></body>

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An abandoned office park in Avon, Connecticut, is being transformed into a mixed-income residential community. Beacon Communities has begun construction on Avon Village, the second phase of the redevelopment project. The latest phase will convert a vacant office building into 76 affordable apartments. “Projects like this are the realization of...

Beacon Communities Launches Second Phase of Connecticut Redevelopment

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An abandoned office park in Avon, Connecticut, is being transformed into a mixed-income residential community. Beacon Communities has begun construction on

Beacon Communities Launches Second Phase of Connecticut Redevelopment

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