Kensington Square is a two-phase project. The second phase consists of 96 units in 19 buildings, which are located in a four square block project area. The project was done through the Neighborhood Strategies Area Substantial Rehab Section 8 program. The City of New Haven submitted a proposal to HUD for such a designation and HUD approved it in 1978. The project involved historic tax credits as well as rehab tax credits for low and moderate-income family housing. Financing for Phase II was provided by the State Department of Housing General Obligation bonds that carried an interest rate of 71/2%. The project was completed in 1988 at a cost of $4,595,600. Each of the buildings in this project was rehabilitated to restore the historical and architectural character of the building.
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