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August 22, 2019Cart

Business

by Fairfield County Business Journal
by FCBJ

Inspirica breaks ground on ‘deeply affordable’ housing in Stamford

Stamford nonprofit Inspirica has broken ground on a 47,000-square-foot affordable housing building at 72 Franklin St., just a few steps from its headquarters at 141 Franklin.

The site of the new affordable housing. Photo by Michael Cummo of Hearst Connecticut Media

When completed, the building will have 26 studio apartments, 17 two-bedroom apartments, and 10 three-bedroom apartments. The building will also feature a six-classroom day care that can accommodate 48 children.

The building is designed for those earning 25 to 35 percent of the median area income, with rents ranging from $470 to $830.

Inspirica described the approach as “deeply affordable housing,” as most affordable housing targets people earning 50 to 60 percent of the median area income.

The nonprofit said that the building is the first of its kind in the nation, and that it “could make Stamford the first major city in the United States to end family homelessness.”