Commonwater has partnered with the landowner of 49 Hatchetts Hill Road and intends to develop a 230-unit mixed-income multifamily development including five buildings and a series of townhomes with shared road and utility infrastructure in Old Lyme, CT.  Plans include a 6,100 SF clubhouse integral to one of the buildings with a landscaped courtyard and pool. The project will be pursued as an affordable housing project under the 9% Low-Income Housing Tax Credit (LIHTC) program. Old Lyme’s Affordable Housing Plan identifies an existing housing gap across all income levels, owners, and renters, with 29% of town residents qualifying as low‐income per State of CT definitions. Old Lyme currently lacks the housing units to meet these needs. The project will be financed in two parts with the equity in the first phase (150 units, 7 affordable) via a Limited Partnership and the second part (80 units, 64 affordable) via the sale of the 9% Tax Credits.