NEW HAVEN, CT – November 12, 2024 – Real estate developers Vesta Corporation and Honeycomb Real Estate Partners are proud to announce the groundbreaking of The Monarch Apartment Homes, a significant new affordable housing development located in the West River neighborhood of New Haven, CT.
The Monarch will feature 64 affordable apartments, marking a strategic effort to provide essential quality housing for the residents of New Haven. This momentous occasion was celebrated by state and city officials, funding partners, and the dedicated development teams who are committed to the success of this initiative.
“At Honeycomb, we believe everyone deserves access to quality, affordable housing,” said Lewis Brown, Managing Partner at Honeycomb Real Estate Partners. “The Monarch represents an important step forward in our mission to provide sustainable, accessible living spaces that enhance the West River neighborhood and enrich the lives of its residents.”
The nearly $30 million project has garnered support from multiple funding sources, including the Connecticut Housing Finance Authority, the Connecticut Department of Housing, the Connecticut Department of Economic and Community Development, the City of New Haven, and PNC Bank.
“We are thrilled to break ground on The Monarch, a project that stands as a testament to the power of partnership and community effort,” stated Joshua Greenblatt, Executive Vice President with Vesta Corporation. “This redevelopment is not just about building homes, but also about fostering a vibrant, supportive environment for the residents of New Haven.”
Innoconn Construction Management is the general contractor overseeing the project, with architectural planning provided by Crosskey Architects.