CHFA Modifies Cherry Street Lofts Financing Terms | Connecticut Housing Finance Authority | RAILROAD AVENUE LOFTS LLC

Scope & details

The full contract record, as filed.

Contract amount

Existing financing includes a $22,500,000 construction mortgage loan, a $12,500,000 permanent mortgage loan, and a $5,000,000 FAF loan; modified financing requires partial repayment and/or paydown of the Construction Loan of at least $1,000,000.

Contract type

FINANCIAL_SERVICES

Contract term

Forbearance through December 31, 2026; modified mortgage financing must close by December 31, 2026

Renewal date

2026-12-31

Renewal

Prior financing was amended by resolutions adopted in 2016, 2019, 2020, 2021, and 2022, with additional modified terms authorized in 2023. The Chief Executive Officer–Executive Director may extend the December 31, 2026 compliance deadline for good cause and required fees.

Document type

Minutes

Source document

Connecticut Housing Finance Authority Minutes Board of Directors Meeting July 23, 2026

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

AMENDED

Connecticut Department of Housing, Connecticut$22,500,000 construction loan; $12,500,000 permanent loan; $5,000,000 FAF loan; at least $1,000,000 partial repayment/paydown requiredJul 23, 2026

ct-housing-finance-authority-board-minutes-bond-underwriters-cherry-street-lofts-oct-28-2021_106.pdf

AMENDED

Connecticut Department of Housing, Connecticut$22,500,000 construction mortgage loan; $12,500,000 permanent mortgage loan; $5,000,000 FAF mortgage loanOct 28, 2021

connecticut-housing-finance-authority-minutes-150m-mortgage-bonds-mobile-home-loan-housing-forbearance-nov-19-2020_723.pdf

AMENDED

Connecticut Department of Housing, Connecticut$22,500,000 construction loan; $12,500,000 permanent loan; $5,000,000 FAF loanNov 19, 2020

connecticut-housing-finance-authority-public-notice-october-15-2020_687.pdf

PENDING

Connecticut Department of Housing, Connecticut$44,700,000 (maximum principal amount of mortgage loans for development)Oct 15, 2020

connecticut-housing-finance-authority-board-minutes-november-21-2019_1d6.pdf

AMENDED

Connecticut Department of Housing, Connecticut$22,500,000 construction loan; $12,500,000 permanent loan; $733,125 transfer from working capital reserve to interest escrowNov 21, 2019

Frequently asked questions

Common questions about this contract, answered from the record.

Who was awarded the financial services contract by Connecticut Housing Finance Authority?

Railroad Avenue Lofts Llc was awarded this financial services contract by Connecticut Housing Finance Authority, as recorded on July 23, 2026. The contract value is Existing financing includes a $22,500,000 construction mortgage loan, a $12,500,000 permanent mortgage loan, and a $5,000,000 FAF loan; modified financing requires partial repayment and/or paydown of the Construction Loan of at least $1,000,000..

How much is the Railroad Avenue Lofts Llc contract with Connecticut Housing Finance Authority worth?

The Railroad Avenue Lofts Llc contract with Connecticut Housing Finance Authority is valued at Existing financing includes a $22,500,000 construction mortgage loan, a $12,500,000 permanent mortgage loan, and a $5,000,000 FAF loan; modified financing requires partial repayment and/or paydown of the Construction Loan of at least $1,000,000., 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 July 23, 2026 (Minutes), dated July 23, 2026 from Connecticut Housing Finance Authority. 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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