At its October 2, 2025, meeting, the Vermont Housing & Conservation Board (VHCB) committed more than $25.3 million in state and federal funding to strengthen Vermont’s communities through new affordable housing, flood recovery, and the conservation of working lands and natural areas. 

These investments address two of Vermont’s most urgent needs: rebuilding and expanding affordable homes in flood-damaged and high-demand areas and protecting the land and water resources that sustain communities for generations. 

“These projects show the power of partnership, the essential work that crosses town lines and benefits every Vermonter,” said Gus Seelig, VHCB Executive Director. “We’re not only building housing for today but protecting the water, soil, and public access that will sustain Vermont’s future.”

Housing Investment Prioritizes Recovery, Seniors, and Families

The Board approved funding to support 207 affordable homes, including new construction, rehabilitation, and the preservation of existing units in high-need communities. These investments span every region of the state, from downtown revitalization in St. Johnsbury to homeownership innovation in Morristown. 

A significant portion of the funding is directed at recovery and specialized needs: 

Brattleboro Flood Recovery (Brattleboro Housing Partnership and Windham & Windsor Housing Trust): $4.8 million was allocated to rehabilitate 31 senior apartments at the flood-damaged West Brattleboro Terrace, developed by Brattleboro Housing Partnership, and $4.44 million to redevelop the historic Holton Home into 21 permanently affordable apartments, including several for individuals with intellectual and developmental disabilities, developed by Windham & Windsor Housing Trust. 

St. Johnsbury Senior Housing (RuralEdge): $1.4 million in supplemental funding was approved for RuralEdge’s Packard Court new construction project in downtown St. Johnsbury. This essential investment will provide critical financing for the 27-unit senior housing complex, which replaces a structure destroyed by fire at a key corner of the city core. 

 Winooski and Grand Isle Solutions (Champlain Housing Trust and Cathedral Square): A combined $6.85 million supports two developments: 24 new rental homes for large families in Winooski, developed by Champlain Housing Trust, and 24 senior apartments preserved and newly constructed in Grand Isle, developed by Cathedral Square. 

Creative Homeownership in Morrisville (Downstreet Housing & Community Development): $519,000 was reserved for Downstreet Housing & Community Development’s Muddy Moose Housing project, which will convert six existing vacation homes into permanently affordable shared-equity homeownership units, securing year-round occupancy near downtown Morristown. 

 Preservation and Stability in Brandon (Cornerstone Housing Partners):
The acquisition of Park Village I & II in Brandon received $3,196,999 for Cornerstone Housing Partners to preserve the affordability of 74 existing rental units, securing long-term housing stability for dozens of families. 

Together, these housing investments will create or preserve 207 permanently affordable homes across Vermont, improving stability and access in both urban centers and rural towns. 

Protecting Working Lands and Expanding Public Access 

VHCB approved funding to conserve 1,685 acres of farmland, forests, and public recreation areas; protecting water quality, wildlife habitat, and outdoor access. 

• Working Farm Protection: The Board committed over $2.2 million to conserve five working farms totaling approximately 980 acres in Addison, Washington, and Franklin counties. The largest, a 570-acre farm in Franklin, includes a major sugarbush operation, while the farm in Washington county includes riparian buffers to protect water quality and community trails for public use. 

• Public Lands Expansion: In partnership with the Vermont Department of Forests, Parks and Recreation, the Board committed $377,000 for the addition of 550 acres to the Bald Mountain block of Willoughby State Forest in Westmore. This expansion will permanently secure public access for hunting, hiking, and backcountry skiing while protecting headwater streams flowing into the Memphremagog watershed. 
• Accessible Hub for Recreation: In Rochester, VHCB committed $765,500 for the Vermont Adaptive Ski and Sports project, which will conserve 125.6 acres and establish the nonprofit’s first fee-owned, statewide program hub. The land conservation will ensure long-term public access, protect significant habitat, and support the organization’s crucial work with veterans and individuals of all abilities. 

Learn more about VHCB’s investments in housing, conservation, and community resilience at vhcb.org.

Summary of Awards 

Addison County 

Shoreham – Farm (Vermont Land Trust)
Funding was approved to conserve 130.7 acres of high quality agricultural land in Shoreham. The easement will also protect approximately 37 acres of significant clayplain forest and expand a contiguous conserved block to more than 2,600 acres. 

Caledonia County 

St. Johnsbury – Packard Court (RuralEdge)
$1,400,000 in supplemental VHCB funds was approved from the Contingency Pool to close the final construction gap for Packard Court, a 27-unit senior housing development in downtown St. Johnsbury. The three-story building will replace a structure destroyed by fire and address significant local demand for senior housing. 

Chittenden County 

Hinesburg – Riggs Meadows Apartments (Champlain Housing Trust & Evernorth)
A supplemental award of $600,000 in VHCB funds was approved for new construction of rental housing at Riggs Meadows Apartments. This brings total VHCB commitments to $4,500,000, along with $669,092 in HOME funds and $922,086 in Housing Trust Fund dollars. The development provides new affordable rental homes with compliance to federal Build America, Buy America standards. 

Franklin County 

Fairfax – Farm (Vermont Land Trust) 

VHCB funding was approved to conserve approximately 46 acres of farmland that has 96% statewide important agricultural soils and is used as cropland for a local dairy operation. 

Fairfax – Farm (Vermont Land Trust) 

VHCB funding was approved to conserve a 102-acre farm that has prime and statewide important agricultural soils on three-quarters of its acreage, 7 acres of riparian protections along a tributary of Beaver Meadow Brook. Conservation funding, which makes the land more affordable, is also helping to facilitate a transfer to the next generation of the farm family. 

Franklin – Farm (Vermont Land Trust)
VHCB funding was approved to conserve approximately 570 acres of farmland, including a 156-acre sugarbush operation with roughly 14,000 taps. The project protects high-value agricultural soils, wetlands, and water-quality buffers in the Lake Carmi watershed. 

 Grand Isle County 

Grand Isle – 29 Faywood Road (Cathedral Square)
Funding was approved to preserve and redevelop senior housing at 29 Faywood Road. The project includes the rehabilitation of eight apartments and the replacement of sixteen obsolete units currently housed in a modified round barn. All apartments will serve seniors and people with disabilities and retain a Section 8 project-based rental subsidy. 

Lamoille County 

Morristown – Muddy Moose Housing (Downstreet Housing & Community Development / (Downstreet Housing Development)
$519,000 in VHCB funds was reserved to acquire a portion of an 18-acre property in Morristown and convert six existing vacation homes into permanently affordable shared-equity homeownership opportunities.  

Cambridge – Peter A. Krusch Nature Preserve Add-on (Vermont Land Trust and Town of Cambridge) 

$200,000 in VHCB funds to expand the Town Owned Preserve to more than 80 acres. The property  includes important forest habitat, borders Dragon Brook and will expand the existing network of hiking trails which hosts more than 4,000 visitors each year. 

Orleans County 

Brownington – Cyrus Eaton House (Orleans County Historical Society & Preservation Trust of Vermont)
VHCB awarded a total of $97,000 to support the rehabilitation, restoration, and long-term stewardship of the historic Cyrus Eaton House. The funding includes resources for both the building’s preservation work and baseline documentation of the associated historic preservation easement. 

Westmore – Willoughby State Forest Addition (Vermont Department of Forests, Parks & Recreation)
$377,000 was awarded to add 550 acres to the Bald Mountain Block of Willoughby State Forest and Sentinel Rock State Park, securing permanent public access and protecting headwater streams in the Memphremagog watershed. 

Rutland County 

Brandon – Park Village I & II (Cornerstone Housing Partners)
$2,708,999 in VHCB funds and $488,000 in National Housing Trust Fund dollars were awarded to acquire and preserve Park Village, a 74-unit rental property. The award ensures long-term affordability of all apartments through renewed covenants and rental restrictions. 

Washington County 

Calais – Farm (Vermont Land Trust)
VHCB approved funding to conserve 131 acres, including high-quality agricultural soils, riparian buffers, and two community recreation trails. The project safeguards an iconic landscape and supports long-term farm viability. 

Windham County 

Brattleboro – West Brattleboro Terrace (Brattleboro Housing Partnerships)
$3,800,000 in VHCB funds and $1,000,000 in National Housing Trust Fund dollars were approved to rehabilitate 31 one-bedroom senior apartments at the former Melrose Terrace site, bringing flood-resilient housing back online. 

Brattleboro – Holton Home (Windham & Windsor Housing Trust)
$4,440,000 in total funding was approved ($2,600,000 VHCB; $1,040,000 National Housing Trust Fund; $800,000 HOME) to acquire and redevelop the historic Holton Home into 21 permanently affordable apartments, including up to 10 units for individuals with intellectual and developmental disabilities. 

Rochester – Vermont Adaptive Ski and Sports (Vermont Land Trust / Vermont Adaptive)
$765,500 was approved to conserve 125.6 acres and establish Vermont Adaptive’s first fee-owned statewide program hub. The project ensures public access and protects wildlife habitat and headwater streams along the White River. 

Windsor County 

Winooski – 255 Lafountain Street (Champlain Housing Trust & Evernorth)
$3,000,000 in VHCB funds and $850,000 in HOME funds were awarded to develop 24 new rental homes for large families on a 1.5-acre site, with a future phase for affordable townhomes in partnership with Habitat for Humanity. 

Statewide Initiatives 

Downstreet Feasibility – Randolph Area Community Development Corporation
$50,000 was approved as a Project Capacity Grant to support the long term viability of regional affordable housing. 

Home Access Program (Vermont Center for Independent Living)
Grant amendments were approved to extend project timelines through December 2025 and clarify eligibility, maintaining a standard maximum of $18,000 per project for accessibility modifications. 

Homeownership Stewardship Pool
$100,000 was committed to preserve previously VHCB-assisted shared-equity homes at risk of loss due to foreclosure or other causes. 

Donated Easement Funding Guidelines
The Board approved new guidelines establishing up to $325,000 in funding for stewardship and transaction costs related to donated conservation easements. 

OPAV Investment Fund
The Board authorized staff to set aside funding to support utilization of the Option to Purchase at Agricultural Value.