Exchange Place Tower Apartments

Affordable Housing in Waterbury, Connecticut

Originally constructed in 1983, Exchange Place Tower Apartments is comprised of 150 units in an urban setting in downtown Waterbury, CT. Its 11-story, elevator high-rise building contains primarily one bedroom apartments and features ground floor retail and underground parking. This service-enriched senior property has a community area on its top floor that offers a wellness center, a computer area, a resident lunch program, an on-site resident services coordinator, a shared use balcony, and space for ongoing educational programming for all residents.

Total Cost

$13,211,000

Description
Exchange Place is comprised of 145 one-bedroom units and five two-bedroom units. All Exchange Place Tower households receive rental subsidies through a project-based Housing Assistance Payment contract with HUD.

Financing
The purchase price for this property was $12,500,000. Secured financing and funding for this project included:

$8,849,500PNC Bank
$4,361,500National Housing Preservation Fund

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