New Haven Construction Corp. created Nash Terrace by converting an old, dilapidated tenement house on Nash Street in New Haven, CT, into 6 two-family townhouse units with a one-bedroom rental unit. At the time this property was acquired it was the biggest eyesore in the neighborhood. The rehabilitation of the building turned the Nash Street area completely around. The project was completed in 1983 at a cost of $390,000. The two-family units were sold for $64,900 with a $5000 soft second mortgage from the City of New Haven. The Connecticut Housing Finance Authority and Colonial Bank provided financing with a guarantee by Connecticut Mutual Insurance. Some of the original buyers still live there today.
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