As it continues its efforts to maintain and increase the affordability of available housing in Lyme, the Affordable Housing Commission (AHC) has identified information on accessory apartment construction loans available from the State that could benefit homeowners and individual residents seeking affordable housing – over and above any actions the Town may take as a result of the AHC’s recommendations.
The loans are available through a Connecticut Housing Finance Authority (CHFA) program called Apartment Conversion for the Elderly (ACE). The AHC would like to share the following information on this program with residents and organizations interested in the issue of affordable housing:
- The ACE program is offered by the CHFA to enable homeowners who are 62 years of age or older to convert space in their single-family homes into accessory apartments or to build additions onto their homes for that purpose.
- For details about the ACE program, including its eligibility requirements and program limitations, please visit the CHFA website here at and select Section 10 – Apartment Conversion for the Elderly (ACE).