Over the last five decades CAC has made important contributions in the area of affordable housing, including the creation of its subsidiary organization, Urban Suburban Affordables (USA).
Through Urban Suburban Affordables an innovate program was created in partnership with the CT Department of Housing that allowed USA to purchase the underlying land for existing family homes throughout Hartford and in its suburbs. This allowed low-income families to purchase a home and enter into a ground lease with USA. Thanks to this initiative, more than 200 low-income families purchased their first home in the Greater Hartford Region. Additionally, throughout the duration of this project, USA and CAC used $3 million dollars to leverage nearly $15 million dollars in private mortgages while enabling the purchase of $17 million in real estate by low to moderate income families.
For more detailed information, learn more about our History of Homeownership Initiative.