Project Basics
Location
Wesport, CT
MSQUARED ROLE
Investment
NUMBER OF UNITS
157
PROJECT TYPE
Mixed-Income
TOTAL COST
$82.4M
Project Details
Location
Wesport, CT
PROJECT TYPE
Mixed-Income
MSQUARED ROLE
Investment
TOTAL COST
$82.4M
NUMBER OF UNITS
157
Village at Saugatuck
The Village at Saugatuck is a mixed-income, transit-oriented development in Westport, CT. The project is located in a top public school district and is walking distance to a commuter rail station that provides easy access to major job centers in New Haven, CT and New York City. 50% of the 157 units will be market-rate and 50% will be affordable to households at a range of incomes: 15% at 60% AMI or less, 16% at 80% AMI or less, and 19% at 100%-120% AMI. In a town with limited multifamily housing, The Village at Saugatuck will provide a much needed option for households who can’t afford a single family home.
Impact
AFFORDABILITY
The Village at Saugatuck will catalyze the production of new mixed-income housing in Westport, CT. 78 units will be restricted as affordable housing for households earning the following bands: 23 units up to 60% AMI; 25 units up to 80% AMI; 30 units up to 120% AMI. 88 units (56% of units) will be family-sized with two- and three-bedroom units and 42 of these family-sized units will be affordable, giving families access to one of the best school districts in the country.
SUSTAINABILITY
The Project is a transit adjacent development, encouraging and facilitating cost-and-time-effective modes of transportation to high opportunity job centers. The Village at Saugatuck will provide charging infrastructure for electric vehicles and will utilize energy-efficient appliances in all units.
DIVERSITY
The Village at Saugatuck will provide housing that brings together families from a wide range of socio-economic levels.
