The Harold Webster Smith Foundation, NeighborWorks New Horizons, and Webster Bank today were joined by state and city leaders and project funders for the grand opening of new and renovated homes on Gaffney Place and Central Avenue in the historic Hillside neighborhood of Waterbury.
In its initial phase, the Waterbury Community Investment, LLC (WCI), as the collaborative project is known, is a complete street revitalization and housing rehabilitation project consisting of five two-family homes while incorporating streetscape and other public improvements. In the project, four existing homes were renovated and one new home was built to provide both homeownership and new rental opportunities.
Webster Bank is offering its employees financial incentives to buy or rent a home in the target area of the Hillside neighborhood. Webster’s employer-assisted housing program, Waterbury Housing Works, is the first of its kind in Waterbury and serves as a model for other Waterbury employers in establishing their own similar programs. St. Mary’s Hospital soon will also be offering an employer-assisted housing program to its employees.
The project is funded by both public and private sources including: Harold Webster Smith Foundation; State of Connecticut Department of Housing; City of Waterbury; State of Connecticut Historic Preservation Office; Wells Fargo; American Savings Foundation; Connecticut Community Foundation; Connecticut Light & Power, Connecticut Trust for Historic Preservation; and the Greater New Haven Community Loan Fund. Other partners in this effort include the Waterbury YMCA, the Mattatuck Museum, and the Historic Hillside Neighborhood Association.