The Burlington Free Press reports that "the West River Valley Senior Housing development in Townshend is being recognized as the No. 1 new senior housing development in the United States" by the Affordable Housing Tax Credit Coalition. The Townshend complex, which opened last October, provides a mix of market-rate, affordable and rent-subsidized units, including 24 independent living apartments and 28 units of assisted living. The organization will receive the award at a ceremony in Washington later this week, and " Housing Vermont, which helped develop the Townshend project, will receive a $5,000 award."

Link to article

Vermont Public Radio reports that state officials are saying that "a housing development in Milton that mixes affordable and moderately priced homes could be a model for the rest of the state." The development, called Cameron's Run, "is in a section of Milton south of the village that the town has designated for residential growth. There are already 17 homes in the development and another 32 will be built - a combination of single-family homes, duplexes and condominiums."  The homes which "will have three bedrooms, a bath-and-a-half and about 1,500 square feet of living space" will sell "for between $225,000 and $300,000 dollars." Notably the Champlain Housing Trust has purchased sixteen of the homes which will be sold to the public for $169,000 dollars -- "less than Chittenden County's median house price." In addition, the Champlain Housing Trust will "keep those homes perpetually affordable by retaining the right to buy them back when the owners decide to sell."

New legislation that was signed into law last week may help other communities duplicate developments like Cameron's Run. According to State Senator Vincent Illuzzi, chairman of the committee that worked on the bill, the new law ensures that "builders won't have to go through some of the review required by the Act 250 development control law." Instead, "cities and towns will take care of some of that during their own zoning reviews."

Link to article

The Rutland Herald reports that "a proposal to demolish and rebuild the biggest low-income housing development in Rutland has received $8.4 million." The plan was "conceived more than six years ago, [and] planners have worked through a number of revisions and meetings with residents and neighbors while trying to figure out how to [get] funding" for the project's $20-$25 million price tag. Notably, "a big part of the answer came earlier this month when the Vermont Housing Finance Agency (VHFA) awarded planners $975,000 in federal low income housing tax credits. Those credits, which amount to almost half of the VHFA annual allocation of $2.3 million in tax credits, are expected to leverage more than $8 million in private equity for the project during the next 10 years." In addition to the credits, "VHFA has approved a $9.25 million construction loan for the project."

Link to article

The Burlington Free Press reports that HomeShare Vermont, "a non-profit organization dedicated to assisting elderly residents and people with disabilities in Chittenden, Addison and Grand Isle counties to live independently in their own homes by connecting them with persons seeking affordable housing or caregiving opportunities," has "received national recognition from the Federal Administration on Aging (AoA) as a 2008 National Aging Program Champion." Notably, "the designation highlights programs and initiatives in States and communities that demonstrate the principles of the AoA’s efforts to modernize community-based long term care and provide supports that enable older Americans to maintain their independence in the community for as long as possible."

Link to article

The Burlington Free Press reports that construction of a 43,000-square-foot, three-story building that will be home to affordable housing units for seniors in Essex Center began this January. The project will cost around $5.5 million and should be complete by Christmas 2008. "The building will have 48 housing units, a porch, commercial kitchen, dining room and underground parking garage for the tenants. Of the 48 apartments, 40 will be available to people age 62 and older. These tenants will pay up to 30 percent of their income on rent, and the U.S. Department of Housing and Urban Development will pay the remainder. The remaining eight apartments will be available to people age 55 and older, and their rent will cost below market value." Thus far, about 200 people -- a third of whom live in Essex -- have expressed interest in living in the building."

Link to article