Q Terrace Homeownership Dream Deferred

Sarah Vanderbilt Photo

Home ownership remains an integral part of the vision for Quinnipiac Terrace. But for now it is a dream deferred.

As the Q Terrace public housing project embarks on its third and final phase of development, the City Plan Commission gave permission to delay the construction of 27 planned homeowner units. Work will begin on 33 rental units will proceed. The housing market is simply in no shape to finance the construction of new homes.

Where there was once a crumbling housing project on Front Street, the colorful new-urbanist Q Terrace now stands. The development is a product of a public-private partnership between the city, developer Trinity Financial, and the Housing Authority of New Haven. The project is part of the federal Hope VI program to replace failed housing projects.

Q Terrace has been underway for several years, and the last of three phases of construction is set to begin. This phase was meant to include 27 homeownership units. The city had requested their inclusion to ensure that Q Terrace was a mixed-income neighborhood.

But then the recession hit. First developers scaled back on the number of homeownership units. Then they announced last month that they would have to put them on hold all together. The City Plan Commission signed off on that plan on Wednesday evening.

Thomas MacMillan Photo

Carolyn Kone (at right in photo), attorney for the developers, told commissioners that the project can’t find funding for homes for sale in the current economy. Project Architect Hank Keating (at left) later said that the developers simply can’t find banks willing to finance homeowner units.

With homeowner construction on hold, Q Terrace will move forward in new phases, Kone explained. On the south side of the development 22 rental units will be built, followed by 10 homeownership units and then seven more later, as funding allows. On the north side, 11 rental units will be built, followed by 10 homeownership units.

In the meantime, the empty lots will be seeded with grass and put behind chain-link fencing, Keating said.

Commissioner and East Rock Alderman Justin Elicker asked what happens if homeownership money isn’t forthcoming.

Our goal is to get it done as quickly as possible,” Keating replied.

Elicker worried aloud about the appearance and upkeep of chain-link fencing if the money drought goes on for one, two, or even three years. Keating said he hoped work could begin in six months.

We’re trying very hard” to find banks that will lend, Keating said after the meeting.

Asked how long it could take, Keating said It’s anybody’s guess.” It could be as long as a year or two, he said.

Nevertheless, home ownership will be a part of the finished Q Terrace, Keating said. It’s integral to the project that there be homeownership.”

Sign up for our morning newsletter

Don't want to miss a single Independent article? Sign up for our daily email newsletter! Click here for more info.


Post a Comment

Commenting has closed for this entry

Comments