FINANCIAL_SERVICESAPPROVED

Connecticut Department of Housing Awards Financial Services Contract to Pennrose Llc (July 2026)

CHFA approved up to $9.475 million in construction-to-permanent financing and an additional $1 million subordinate loan to Pennrose, LLC for the 59‑unit Strong School Redevelopment in New Haven. The loans carry a 40‑year permanent term with 40‑year affordability requirements and must close by April 30, 2027.

Status
APPROVED
Document date
July 23, 2026
Contract type
FINANCIAL_SERVICES
Vendor
Pennrose Llc
Agency
Connecticut Department of Housing · CT

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Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo
Motive logo
Veritone logo
TerraCycle logo
Cyvl logo
WithersRavenel logo
Derivita logo
Comcate logo
SafeTouch logo
IANS Research logo

Scope & details

The full contract record, as filed.

Contract amount
Construction-to-permanent loan not to exceed $9,475,000; Additional mortgage loan up to $1,000,000
Contract type
FINANCIAL_SERVICES
Contract term
Construction Period: up to 10 months interest-only; Permanent Period: 40-year amortization over 40-year term; Additional Loan term coterminous with Permanent Loan; affordability restrictions for 40 years
Renewal date
2067-04-30
Renewal
Resolution and financing authority terminate if the mortgage financing does not close by April 30, 2027, unless the CEO grants an extension for good cause with applicable fees.
Document type
Minutes
Source document
Connecticut Housing Finance Authority Minutes Board of Directors Meeting No. 644 2026-07-23

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Frequently asked questions

Common questions about this contract, answered from the record.

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

Pennrose Llc was awarded this financial services contract by Connecticut Department of Housing, as recorded on July 23, 2026. The contract value is Construction-to-permanent loan not to exceed $9,475,000; Additional mortgage loan up to $1,000,000.

How much is the Pennrose Llc contract with Connecticut Department of Housing worth?

The Pennrose Llc contract with Connecticut Department of Housing is valued at Construction-to-permanent loan not to exceed $9,475,000; Additional mortgage loan up to $1,000,000, covering financial services work.

What type of contract is this?

This is a Financial Services contract, documented as a minutes record, structured as a not-to-exceed (ceiling) agreement.

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 Pennrose Llc hold?

Pennrose 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.

View Pennrose Llc's profile

What is Connecticut Department of Housing currently buying?

Explore Connecticut Department of Housing's vendors, signed contracts, and active RFPs on their Civic IQ agency profile.

View Connecticut Department of Housing's profile

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