close

Windham & Windsor Housing Trust to provide new Brattleboro development

Windham & Windsor Housing Trust
October 29, 2018

Contacts:
Elizabeth Bridgewater
ebridgewater@homemattershere.org
802-246-2109

Gus Seelig
gseelig@vhcb.org
802-828-3251

Rebecca Kelley
rebecca.kelley@vermont.gov

Brattleboro, VT – Windham & Windsor Housing Trust continues to provide housing opportunities through a new downtown development at 29 Flat Street, otherwise known as the Snow Block. The new apartment building will have twenty-three apartments ranging from studio to two-bedroom and will seek to revitalize a portion of Brattleboro’s downtown area.

Funding for the project includes monies from the state’s Housing for All Revenue Bond (HRB), which Governor Scott proposed and was passed into law in 2017.
“The Snow Block, located in downtown Brattleboro, will meet a housing need that continues to grow throughout Vermont,” said Governor Scott. “And with both millennials and our aging populations looking to live in walkable communities close to shopping and access to public transportation, having housing they can afford in vibrant downtowns is critical. I’m so pleased our housing bond is making that possible in Brattleboro and in our downtowns across Vermont.”

 

Funding totaling over $7 million from numerous sources was raised to cover the total development costs. Almost $5 million came through Housing Tax Credits administered by the Vermont Housing Finance Agency (VHFA) and purchased by People’s United Bank. “The Snow Block is a great example of how we can leverage private investment strategically with state resources to produce much needed efficient and affordable housing in the heart of our downtowns.” Said Sarah Carpenter, Executive Director of VHFA. “People’s United Bank is pleased to be a major investor in the Snow Block and we are thrilled with our long-term relationship with Windham & Windsor Housing Trust, said People’s United Bank Vice-President and CRA Officer Art Casavant. “This important project reflects the power harnessed in Vermont in support of low and moderate income communities and we look forward to the successful construction and occupancy of this vibrant new housing space.”

The Vermont Housing & Conservation Board committed $1,538,000 in proceeds from HRB to the development, as well as $490,000 in federal HOME Program funds, and $292,178 in federal National Housing Trust funds. “VHCB is delighted to invest the housing revenue bond both in downtown Brattleboro and WWHT’s continuing leadership in meeting the housing needs of its region so effectively,” said VHCB Executive Director Gus Seelig. “Our investment was made possible because of Governor Scott’s leadership in proposing a housing revenue bond to accelerate new development across the state and this marks WWHT’s third use of the bond proceeds, having recently opened new homes at Great River Terrace and Putney Landing.”

This project continues WWHT’s track record of success in the neighborhood with investments at the Wilder Block, The Co-op and the Abbott demonstrating the use of housing as a force for community revitalization.
Additional funders include NeighborWorks America, Efficiency Vermont, and the Windham Regional Commission.

The Snow Block will provide housing options for a cross-section of the community with some apartment income limits set as high as $55,188 for a single person or $63,072 for a two-person household. Other apartments will be paired with a rental voucher making it affordable to those with more modest incomes. Four of the apartment will be occupied by Youth Services clients with an opportunity to have services available on site.

“Our commitment to our most vulnerable community members was the driving force behind our partnership with Brattleboro’s Youth Services,” said Executive Director Elizabeth Bridgewater. “Young people often have the hardest time getting their first apartment and we want to provide support at a critical point in a young person’s life.”

The project’s design and development team include Stevens & Associates, PC, John F. Penney Consulting Engineers, Dubois & King, Inc, Eco Houses of Vermont, and JD Kantor. ReArch Construction will oversee construction management services.
For information about any of WWHT’s apartments or to learn how to apply for housing, call (802) 254-4604.

Spread the love
  •  
  •  
  •  
  •  
  •  
  •  
  •  

No Comments

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Story Page