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House New London

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A Partnership
House New London is a partnership that renovates and builds homes and revitalizes neighborhoods in the City of New London. The House New London mission is to promote affordable homeownership for first-time home buyers.

The House New London partnership includes four non-profit groups:

Alderhouse Residential Communities
HOPE (Housing Opportunities for People)
ECHO (Eastern Connecticut Housing Opportunities)
New London Development Corporation (NLDC)

House New London offers homes with superior quality renovations and construction, which are sold at below-market prices to qualified homebuyers who make no more than 80% of the Area Median Income (as determined by family size). Most House New London properties also have accessory rental income units, which are restricted to affordable rentals to tenants with income limitations.

An Innovative Program
Key innovations of the House New London program include:
1. Collaboration with existing organizations. House New London partners are independent organizations that work together in planning and overseeing the program. The House New London Advisory Committee includes individuals and organizations that have a demonstrated track record in support of neighborhood revitalization through promoting home ownership.
2. A Target Block Approach. Rather than scattering home rehabilitation efforts throughout the City, House New London has targeted several neighborhoods with a significant number of blighted properties. When the initiative began, more than 64% of the homes in the target neighborhoods were owned by investors, many of whom were unwilling or unable to make repairs and improvements to their properties. This resulted in a downward spiral of disinvestment, with existing homeowners encouraged to migrate out of the neighborhoods. This disinvestment encouraged further property deterioration and brought an increase in nuisance behavior and criminal activity.
3. Education for homebuyers. The House New London program organized a homebuyer and homeownership training program that is now known as the HomeBuyer Education Program of OIC of New London County. This program provides nationally (HUD) certified homeownership education and counseling for first-time homebuyers. This program provides training in topics such as budgeting and credit, housing finance, selecting a home, maintaining a home, landlord training and record keeping. The Opportunities Industrialization Center (OIC) of New London County provides training space and linkages to related community training and education programs.

ACCOMPLISHMENTS
Construction activity in the House New London program began with Phase I in 2004, which was eclipsed in 2006 with the commencement of the current Phase II. During this time, House New London has:

Completed 17 properties (13 rehabilitation projects and 4 new construction), primarily in the Belden Street and West Coit Street neighborhoods. These completed properties represent a total of 31 affordable residential units. A defining highlight of the program activity to date has been the completion of a small subdivision at the gateway to Belden Street, on property that was formerly vacant and blighted commercially zoned land.

Launched the Homebuyer Training Program which has trained several hundred prospective homeowners. This training has resulted in more than 60 first-time homebuyers, including all House New London projects

Obtained more than $1.1 million in American Dream Downpayment Initiative (ADDI) grant funding for downpayment assistance grants for first-time home buyers. These grants are usually in the amount of $10,000 for buyers of single family homes.

Has an additional 6 properties under development and/or construction, with a completion date of early 2010.

Obtained $3.5 million in gap financing commitments through Connecticut housing tax credits and HOME funds, to allow the development, construction and below-market sales of completed homes to first-time homebuyers.


COMMUNITY-WIDE EFFORT
House New London is truly a community effort. The program derives assistance from a wide range of public and private sector supports, including major corporations, financial institutions, foundations, health care organizations and government organizations. These include:

Citizens Bank lead funder for project operations and homebuyer training
Pfizer Inc
The Pfizer Foundation
Lawrence & Memorial Hospital
The Frank Loomis Palmer Fund
Dime Bank
Connecticut Light and Power Company
State of Connecticut Department of Economic and Community Development
The City of New London

Additional support has come from the Connecticut Housing Finance Authority (CHFA), Fleet Bank, The Bodenwein Charitable Foundation.


FOR MORE INFORMATION
H.O.P.E., Inc.
Marilyn Graham, Executive Director
187 Williams Street
New London, CT 06320
(860) 447-0812

ECHO / Eastern Connecticut Housing Opportunities
Peter Battles, President
228 State Street, Suite 5
New London, CT 06320
(860) 447-8055

Alderhouse Residential Communities
Jim Dunn, President
363 Main Street
Middletown, CT 06457
(860) 344-8992

New London Development Corporation
Frank McLaughlin, Chairman House New London
165 State Street, Suite 421
New London, CT 06320
(860) 961-7746

ADDI (American Dream Downpayment Initiative)
Sally Williams, Program Manager
ECHO
228 State Street, Suite 5
New London, CT 06320
(860) 447-8055
Related Links
HNL Photo Gallery

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