85 Tremont

Meriden, CT

Trinity Financial's $54.5 million plan aims to revitalize Meriden's historic Aeolian Company building, transforming it into an 82-unit mixed-income rental housing project. Located at 85 Tremont Street within Meriden's Adaptive Reuse Overlay District, the project not only rejuvenates the historic structure but also remediates a Brownfield site.

The Aeolian Company building, once a hub for automatic musical instrument production, will feature 82 mixed-income apartments catering to various income tiers from 30% to 80% of the area median income (AMI), with 11 units at 30% AMI designated as project-based HUD Section 811 units.

Funding for the project is diverse, including affordable housing tax credit equity, federal and state historic tax credit equity, and support from the Connecticut Housing Financing Agency (CHFA) and other state-level programs. Trinity employs a bifurcated financing structure, utilizing both 9% and 4% Low-Income Housing Tax Credits (LIHTCs).

The adaptive reuse plan preserves the building's history by maintaining original materials, exposing ceiling beams and columns, and converting the former boiler room into amenity spaces. Trinity has secured approvals from the Connecticut State Historic Preservation Office (CT SHPO) and the National Park Service (NPS). The design prioritizes sustainability, aiming for Enterprise Green Communities certification, and features energy-efficient elements such as a new window system, high-efficiency HVAC, Energy Star appliances, LED lighting, and planned photovoltaic panels on the roof. Trinity's initiative not only addresses the housing shortage but also contributes to Meriden's urban renewal, creating a sustainable community space.

Type
Resident, Mixed-Income

Total Development Cost
$54.5 Million

Units
82

Anticipated Completion
2026