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Housing Authority Looks To Grow Its Stock

The Greenwich agency is seeking OK from Board of Selectmen to buy three homes in Cos Cob to house 6 families.

 

The Greenwich Housing Authority is seeking Board of Selectmen approval of municipal improvement request on a plan to buy three multi-family homes in Cos Cob.

The homes, which have five two-bedroom and one single-bedroom apartments, would add 6 family units to the approximately 1,100 units of non-market rate housing units the authority has in town.

According to authority member Sam Romeo, he found that the owner of the properties at 85, 87 and 89 Strickland Rd.—across from the Cos Cob commuter parking lot on the Mianus River—wanted to sell, so Romeo proposed the authority purchase the properties. He declined to say how much the authority expects to pay for the parcels, which according to town records are owned by Theodore Allegrini Sr.

"I found a deal and brought it to the board and they approved it," Romeo said.

Romeo said the housing authority has pre-approved financing from two banks to complete the purchase. "... We'll choose between one of the banks," Romeo said.

One of the attractions to the buying the homes, Romeo said, is that the only town approvals to the purchases is the Board of Selectmen is granting the municipal improvement status. "One of my goals is to find multi-family homes already in operation that you won't need to go before Planning and Zoning or fight the neighbors," Romeo said.

First Selectman Peter Tesei said the proposal will add to the much needed non-market rate housing stock in town. Romeo said that the authority has closed its waiting lists but anticipates reopening them once the pending purchases are completed, hopefully by year's end.

Tesei said the location of the units are attractive because of the proximity to I-95 and the Cos Cob train station, making it easy for residents to commute.

The municipal improvement status approval which would enable the property purchase is on the selectmen's Dec. 6 meeting agenda. The meeting begins at 11 a.m. in the Greenwich Town Hall Meeting Room.

Vicki Camacho - Public Access Producer December 06, 2012 at 03:23 PM
Wow! Is this Cos Cob's checkmate to the other project? Amazing:)

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