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Vidal Court Revitalization
Charter Oak Communities has joined the Vidal Court Tenant Association in planning the $135 million revitalization of Vidal Court, a physically obsolete, state-assisted public housing complex. The revitalization program will transform Vidal Court into a stable, economically balanced community that is physically and socially integrated into its surroundings. Further, it will stimulate renewed community investment in the West Side neighborhood of Stamford.
The existing Vidal Court complex consists of 216 units of high-rise rental housing on a six-acre site. Deferred investment by the state during the past 20 years resulted in a projected $15 million capital shortfall which would have to be committed for the complex to have continued serving its current population. A physical needs study has called for major electrical and mechanical upgrades, new roofing, lead-based paint abatement, kitchen and bathroom replacement and site refurbishment among other critical items. None of the existing units are accessible to the disabled.
COC and the Vidal Court Tenant Association (VCTA) executed a two-stage agreement to proceed with the revitalization program. The first stage, executed in April 2002, described the roles, responsibilities and goals in planning for the revitalization. It also provided assurances to existing Vidal Court residents that each tenant in good standing would be provided housing within the revitalized community and that it would be within the City of Stamford. The second stage, executed in December 2002, signified the agreement between COC and residents to move forward with the project and to collaborate in the many aspects necessary to assure its approval and successful completion.
COC and its architects conducted a series of public information workshops, housing needs surveys and joint planning sessions with Vidal Court residents to achieve a high level of resident input culminating in a schematic master plan. That plan provides for the replacement of the previous six-story apartment buildings with new townhouses that are integrated into the fabric of the surrounding community.
The design of the new townhouses will feature traditional architecture and will incorporate the principles of “new urbanism” and defensible space. The townhouses will each feature direct entries from the outdoors, front yards and other amenities that are important to families. These units will be sufficiently sized, have functional, efficient layouts and appeal to a broad range of households.
Demolition of all existing buildings is occurring in phases as residents are relocated into their new homes. The new development will ultimately comprise approximately 350 mixed-income housing units that will include the one-for-one replacement of the existing 216 below-market units along with 134 market-rate units. All units will be physically indistinguishable by the tenants’ income level and, to the extent practicable, residents in every income tier will be represented in each building. The existing site will be utilized along with several sites in the surrounding neighborhood that are being acquired.
The first offsite development phase – 58 Progress Drive Apartments – will consist of 95 rental units on a four and one-half acre site. The distinctive architecture of this development will evoke a New England village, similar to Nantucket. Of the total 57 apartments will be for moderate income renters and 38 will be available to an unrestricted market.
The funds needed to implement the Vidal Court revitalization program are coming from a variety of public and private sources including equity raised from the syndication of Low Income Housing Tax-Credits, mortgage debt from the Connecticut Housing Finance Authority, a grant from the City of Stamford and grants-in-aid from the State of Connecticut. In all, COC will leverage public funds with private investment on the basis of nearly 5:1. The new ownership entity will be a for-profit partnership consisting of a COC-controlled entity along with tax credit equity investors as limited partners. COC or its affiliate will maintain Vidal Court's public purpose by providing socially responsible, site-based property management services.
The revitalization program for Vidal Court will create a self-sustaining housing resource for low- and moderate- income working families in Stamford by utilizing a financing model that relies on mixed-income marketing and the leveraging of public funds with significant private investment capital. The design integrates the new development into the surrounding community and creates off-site housing opportunities that demonstrate the power of public-private partnerships.
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