"http://www.stamfordplus.com/stm/information/nws1/publish/News_1/index.shtml - News</head> : Real Estate Published: Feb 3, 2012 - 5:59 PM

Grant to NNI supports housing affordability

By New Neighborhoods, Inc.


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l-r: Christine Hagan, Assistant Vice President, Wells Fargo; Arnoldo Ulloa, Community Development Officer for Connecticut; Ross Burkhardt, President & CEO, New Neighborhoods, Inc. Wells Fargo has awarded NNI a $10.000 grant to further the nonprofit housing developer’s work to produce critically needed affordable rental and ownership housing in Stamford, Norwalk, Danbury and across Fairfield County.
New Neighborhoods, Inc. (www.nnistamford.org) is pleased to announce that it has received a grant from Wells Fargo. The $10,000 grant will support NNI’s ongoing work to produce and preserve critically needed affordable rental and ownership housing in Stamford, Norwalk, and Danbury, in communities across Fairfield County. Stamford-based NNI is Fairfield County’s oldest active nonprofit housing developer and manager. It has developed over 500 units of high quality affordable family and senior housing and has 375 rental units in nine buildings in its property management portfolio.

"Wells Fargo is committed to providing community investments that create systemic and sustainable change and improve the quality of life for people in our towns and neighborhoods," said Arnoldo Ulloa, community development officer for Connecticut. "We're pleased to partner with NNI to support affordable housing because preserving and building rental and home ownership opportunities is one of the best ways to stabilize communities."

“We are grateful for Wells Fargo’s support. The true beneficiaries of the housing that this grant will help make possible are the men and women who use NNI’s affordable housing to move up the economic ladder and achieve self-sufficiency and the neighborhoods where we have a presence.” said NNI President & CEO Ross Burkhardt.”

NNI has several low and moderate income workforce housing developments on the drawing board and underway, some with a mix of both supportive and affordable units, including a 50-unit development in Stamford’s South End neighborhood, and home ownership preservation on the West Side of Stamford. It recently completed the $23 million renovation of 121-unit Friendship House in Stamford. NNI is celebrating its 45th year of developing and managing quality housing that has made it possible for hundreds of striving low and moderate income families to move up and for seniors to remain in the communities where they have lived, raised families, worked, and given back.

For information about the state of affordable housing in Fairfield County and New Neighborhoods, Inc. initiatives, call (203) 359-2215, email info@nnistamford.org or visit NNI online at www.nnistamford.org.



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