WINNDEVELOPMENT CELEBRATES THE COMPLETED REHABILITATION OF 280 APARTMENTS ACROSS 17 RESIDENTIAL BUILDINGS IN BRISTOL

WinnDevelopment, the real estate development arm of WinnCompanies, announced today the completed rehabilitation of Huntington Woods, a 280-unit, mixed-income apartment community in Bristol, Connecticut.

WinnDevelopment celebrated this project with a ribbon-cutting ceremony, where they were joined by local and state officials, including Dannel P. Malloy, Governor of Connecticut; Evonne Klein, Commissioner of the Connecticut Department of Housing (DOH); Eric Chatman, President and Executive Director of the Connecticut Housing Finance Authority (CHFA); and Mayra Sampson, Bristol City Council Member.

“My administration continues to make much-needed investments in housing revitalization projects like this one that are increasing the number of affordable apartments and improving the quality of life for Connecticut residents,” said Governor Malloy. “These investments have a positive impact on the economy as well. This project, for example, is estimated to generate 257 new jobs and $2.6 million in net state revenue.”

WinnDevelopment completed a substantial rehabilitation of the property, including a major utility conversion, replacing outdated electric heating and hot water systems with high efficiency natural gas systems that dramatically lowered residents’ utility costs. Winn also updated kitchen and bathrooms with energy star appliances, lighting and windows. In addition, the buildings received new roofing, attic insulation and exterior stair and balcony improvements.  No residents were required to move during these renovations.

Originally built in 1995, Huntington Woods consists of 17 residential buildings on 20 acres of land. With the completed renovations, the 280 units consist of one, two and three-bedroom floor plans. The number of affordable, income-restricted apartments increased from 108 (40 percent) to 196 units (70 percent). In addition, the affordability provisions have been extended and will remain for the next 40 years. The remaining 30 percent of the units are unrestricted, market rate apartments.

“Winn is committed to showing towns and cities what affordable housing can and should be,” said Adam Stein, vice president, WinnDevelopment. “We are proud to partner with the CHFA and DOH to create quality communities like Huntington Woods that serve as a prime example of the type of housing Winn develops and maintains.”

The Huntington Woods community features multiple country club style amenities, such as a newly renovated clubhouse that includes the leasing office, as well as a tenant lounge with a kitchen, fireplace, seating area and fitness room. Additionally, WinnDevelopment built a children’s playground, re-tiled the swimming pool, resurfaced the tennis courts, added a new half basketball court and installed handicap accessible site and unit improvements. The complex offers 24-hour emergency maintenance, an on-site recycling program, dry cleaning drop off and on-site laundry.

In addition to the new kitchen appliances, the units have new cabinets, countertops, sinks and fixtures and feature private patios or balconies, walk-in closets, vaulted ceilings, a breakfast bar, Berber carpeting, washer and dryer connections and linen closets.

Huntington Woods is conveniently located near public transportation and is only a short drive from local parks, shops, restaurants, museums and more.

Winn worked with the Connecticut Housing Finance Authority (CHFA), HUD Hartford and Boston Financial Investment Management to purchase the property and finance the rehabilitation. The Connecticut Department of Economic and Community Development (DECD) provided state HOME funds. In addition, Winn successfully extended the use period so that Huntington Woods will be rent restricted for another 40 years.  

The project’s architect was The Architectural Team and the contractor was Keith Construction. Yankee Gas, a Northeast Utilities Company, installed the new underground gas systems. WinnResidential will serve as the property manager for Huntington Woods. WinnResidential currently manages 31 other properties in Connecticut.

About WinnCompanies

WinnCompanies is a visionary national real estate company dedicated to the highest standards of excellence. Through its companies, WinnDevelopment, WinnResidential and WinnMilitary housing, Winn develops, acquires and manages multifamily, affordable, senior, mixed-income, market rate, as well as commercial properties throughout the United States. Founded in 1971, WinnDevelopment has since acquired and developed real estate holdings valued in excess of $2.0 billion. The company’s portfolio includes more than 90,000 residences across 23 states, and it has converted more than 5 million square feet of property into prime commercial space. WinnCompanies’ work is defined by a commitment to innovative financing and the highest standards of professionalism. www.winncompanies.com 

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·         Larry Curtis, President, WinnDevelopment

·         Eric Chatman, President and Executive Director of the Connecticut Housing Finance Authority

·         Michael Putziger, Chairman of the Board, WinnCompanies

·         Adam Stein, Vice President, WinnDevelopment

·         Mark Luster, Senior Mortgage Underwriter - Multifamily Underwriting, Connecticut Housing Finance Authority

·         Dannel P. Malloy, Governor of Connecticut

·         Rob Charest, Senior Vice President, Acquisitions, Boston Financial

·         Mayra Sampson, Bristol City Council Member

·         Evonne Klein, Commissioner of the Connecticut Department of Housing