CHFA Modifies Cherry Street Lofts Financing Terms

CHFA amended its financing for Railroad Avenue Lofts, LLC’s Cherry Street Lofts Phase I project by authorizing forbearance on the construction loan through December 31, 2026, conditioned on at least $1 million in repayment and continued interest accrual. The CEO may further modify the construction, permanent, and FAF loans to support completion and repayment.

Scope & details

The full contract record, as filed.

Contract amount

$22,500,000 construction loan; $12,500,000 permanent loan; $5,000,000 FAF loan; at least $1,000,000 partial repayment/paydown required

Contract type

FINANCIAL_SERVICES

Contract term

Forbearance through December 31, 2026; other loan terms previously established and subject to modification

Renewal date

2026-12-31

Renewal

Forbearance and loan term modifications extend and adjust existing construction, permanent, and FAF loan arrangements, with resolution void if modified financing does not close by December 31, 2026, unless extended by the CEO for good cause.

Document type

Minutes

Source document

Connecticut Housing Finance Authority Minutes Board of Directors Meeting No. 644 2026-07-23

Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by Connecticut Department of Housing?

Railroad Avenue Lofts Llc was awarded this financial services contract by Connecticut Department of Housing, as recorded on July 23, 2026. The contract value is $22,500,000 construction loan; $12,500,000 permanent loan; $5,000,000 FAF loan; at least $1,000,000 partial repayment/paydown required.

How much is the Railroad Avenue Lofts Llc contract with Connecticut Department of Housing worth?

The Railroad Avenue Lofts Llc contract with Connecticut Department of Housing is valued at $22,500,000 construction loan; $12,500,000 permanent loan; $5,000,000 FAF loan; at least $1,000,000 partial repayment/paydown required, covering financial services work.

What type of contract is this?

This is a Financial Services contract, documented as a minutes record.

Where was this contract approved?

This contract appears in Connecticut Housing Finance Authority Minutes Board of Directors Meeting No. 644 2026-07-23 (Minutes), dated July 23, 2026 from Connecticut Department of Housing. Civic IQ extracts contract records directly from agency meeting documents and solicitations.

What other contracts does Railroad Avenue Lofts Llc hold?

Railroad Avenue Lofts Llc may hold additional government contracts. View their full contract history, the agencies they serve, and total tracked spend on their Civic IQ vendor profile.

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What is Connecticut Department of Housing currently buying?

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