JHM Financial Group and local officials break ground on $20m The Royle at Darien

November 15, 2019 - Connecticut
Shown (from left) are: JHM Group’s John McClutchy; former DHA commissioner Jan Raymond;
DHA commissioner Peter Bigelow; Joseph Warren; Bill Tommins; CT’s Department of Housing’s deputy commissioner
Shanté Hanks; chairman of the Housing Authority Joe Voccio; Darien first selectwoman Jayme Stevenson;
Richard Richman of Richman Group; David Kooris; and JHM Group’s Todd McClutchy.

Darien, CT U.S. senator Richard Blumenthal joined the Housing Authority of the town, JHM Financial Group and other local officials to celebrate the groundbreaking for the $20 million senior housing development known as The Royle at Darien. Blumenthal gave opening remarks at the event which was held on-site at 719 Boston Post Rd. and was attended by local residents and community supporters.

This new senior living community, designed for independent seniors age 55 and over, will provide 55 new, affordable one-bedroom apartment rentals that blend into the neighborhood and add to the balance of the town. The three-story building, which is expected to be completed during the summer of 2020, replaces the outdated and obsolete Old Town Hall Homes housing complex which consisted of six buildings and only 30 studio and one-bedroom apartments. All residents from that original complex have been relocated to senior apartments in town or in nearby areas. 

The development is being financed through a combination of private and public funds including but not limited to CHFA, CT Department of Housing, the town and Bank of America, and takes advantage of federal programs such as low-income housing tax credits.

“Low-income housing tax credits are absolutely critical to the future of housing in this country and in Connecticut,” Blumenthal said. “With The Royle, we see the great achievements that are possible when we work together. This project is a model that I will take back with me to Washington.”

On a state-level, this project is also being hailed as a model of other communities. Connecticut’s Department of Housing’s Deputy Commissioner Shanté Hanks said this type of project addresses the needs of Connecticut’s aging population which is increasingly independent and wants to age in the comforts of their own homes. Additionally, deputy commissioner David Kooris of Connecticut’s Department of Economic Community Development felt this was an example of “communities being proactive and creative in evolving their built environment to meet the changing needs of their population.”

Todd McClutchy of JHM Financial Group, a member of the partnership, was pleased at how this public-private partnership came together for the benefit of Darien and its residents. 

“The Royle will be an aesthetically appealing community that beautifies a prominent part of the downtown, adds to the landscaping, serves a greater number of residents, and adds to the economic vibrancy of the area by creating the highest and best use for the property,” he said. “It is great to be part of this vibrant public-private endeavor.”

Other officials at the event were Joseph Warren, chairman of the Housing Authority of the town, and first selectwoman Jayme Stevenson. Additionally, members from the CT Housing Finance Authority, Richman Group, Imagineers LLC, and Bank of America were on hand.

Tags:

Comments

Add Comment


More from the New England Real Estate Journal