VHCB Awards Funding to Create 244 New and Rehabilitated Homes in Seven Towns and to Repair Farmworker Housing Statewide

VHCB Awards Funding to Create 244 New and Rehabilitated Homes in Seven Towns
and to Repair Farmworker Housing Statewide

At recent meetings, the Vermont Housing & Conservation Board awarded $31.96M in state and federal funds for construction and rehabilitation of 244 homes serving households in Hartford, Morrisville, Newport City and Newport Center, Windsor, South Burlington, and Burlington. Federal funding commitments totaling $30.33 million were matched with $1.62 million in state funds. A loan program for repairs to farmworker housing will be recapitalized, helping improve housing for farmworkers around the state.

VHCB Executive Director Gus Seelig said, “VHCB is pleased to support partners around the state who have responded to the shortage of affordable housing in their communities. These awards will leverage significant private investment through the Low Income Tax Credit Program to construct and rehabilitate housing for working families, older Vermonters and persons living with disabilities. We anticipate further requests for hundreds more units in the coming months from all corners of Vermont.”

Hartford - Twin Pines Housing and Evernorth - Riverwalk Apartments
Twin Pines and Evernorth will purchase a four-story building with 42 apartments to be constructed by DEW Braverman LLC at the corner of Maple and Prospect Streets. Studio, one-, two-, and three-bedroom apartments will serve a variety of households. The location is within easy walking distance to public transportation, grocery stores, schools, parks, and services. Construction is expected to begin in late 2022, with completion and occupancy in early 2024. VHCB awarded $6.6M in state, American Rescue Plan Act, and HUD HOME Program funds for the $15.7M development.

MorrisvilleLamoille Housing Partnership and Evernorth - Gordon Lane Apartments
Private developer Graham Mink will sell 25 apartments in two buildings to the Lamoille Housing Partnership and Evernorth.  Located one-half mile from the village center, off of Route 100, the apartments will be permanently affordable to households at a range of incomes. Four homes will be reserved for households at risk of homelessness, working with the Lamoille Valley Housing and Homeless Coalition. A VHCB award of $1.3M in state funds for acquisition, construction and related expenses will be matched with $3.36M in federal funding.

Newport Center and Newport City - RuralEdge - Newport Crossing
With $8.65M in federal funds awarded by VHCB, RuralEdge will bring 43 new and rehabilitated apartments on three sites to the area. In Newport Center, they will acquire and redevelop two blighted buildings and in Newport City they will purchase and undertake moderate rehabilitation of a three-unit building on Main Street and begin redevelopment of the former Sacred Heart campus, to be known as Four Founders Circle. The Four Founders Circle component consists of 26 new homes at the former convent, along with a community room and an office for on-site services including SASH. Over time, RuralEdge envisions this site to be built out to include condominiums in the vacant high school building as well as additional homes with a mix of rental and homeownership opportunities on the former playing fields.

Windsor - Windham & Windsor Housing Trust and Evernorth - Central & Main
A community and economic redevelopment effort in downtown Windsor will result in new housing on a long-vacant parcel donated by the Windsor Improvement Corporation (WIC). With $3M in federal funds from the American Rescue Plan Act and the National Housing Trust Fund, the Windham & Windsor Housing Trust and Evernorth will develop a 3-story residential building with apartments and shared community space. Several apartments will be rented to households that have experienced homelessness with services provided by the Springfield Supportive Housing Program. Environmental clean-up, infrastructure, and roadwork to be completed on the site will allow WIC to develop a mixed commercial and residential development in a second phase.

BurlingtonChamplain Housing Trust (CHT) and Evernorth – Post Apartments
CHT and Evernorth will redevelop the Howard Plant VFW site to create Post Apartments, using $7.33M in federal funding from the American Rescue Plan Act and the National Housing Trust Fund. The concept is to redevelop the Howard Plant VFW site and construct a new, 5-story building with 38 apartments on the upper floors. Office space on the first floor will be occupied by two nonprofit commercial entities. Ten apartments will have federal rental assistance and eight apartments will be designated for households transitioning from homelessness, with five of those prioritized for veterans. A staff person will provide support services to residents. Located in downtown Burlington, the site is within walking distance to services and public transportation. Construction is expected to begin in 2023 and be completed in late 2024.

South Burlington – Summit Properties – Hillside at O’Brien Farm
Summit Properties will construct two 5-story apartment buildings with 94 homes, 71 of which will be affordable to low- and moderate-income households. The development is located 1.5 miles from the South Burlington Town Center, close to a bus stop and the bike path that links to the library, City Hall, shops, and the elementary and high schools. Twenty homes will be reserved for households moving out of homelessness with support services provided. VHCB made a supplemental award of $1.7M in American Rescue Plan Act funds to fill a financing gap and allow construction to begin in late 2022, with  occupancy expected in 2024. The awards are in addition to $4.85M in American Rescue Plan Act funds awarded by VHCB in May 2022.

Statewide Champlain Housing Trust – Farmworker Housing Repair Loan Program
A loan fund to finance the repair and improvement of farmworker housing will be recapitalized with $906,000 and a pilot program for new construction of farmworker housing will be developed with $620,000 awarded by VHCB. Since it was launched earlier this spring, the Champlain Housing Trust has committed $500,000 in loan capital to improve 21 farmworker housing projects housing more than 100 farmworkers living and working on farms in Vermont. UVM Extension Service is acting as a partner with CHT in helping with outreach to farmers about the new program.