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Development

Burlington Town Center expected to create much-needed affordable housing and jobs

In addition to construction jobs, the proposed Burlington Town Center plans include creation of 55 new units of affordable housing and 219 market rate homes.  Housing advocates and community leaders joined Burlington Mayor Weinberger today in City Hall Park to discuss ways in which the proposed Town Center would help address the needs of the region’s residents for more affordable homes located near jobs and services. 

Vermont celebrates opening of its first net-zero energy, affordable rental neighborhood

Executive Director Sarah Carpenter joined Congressman Peter Welch, Addison County Community Trust (ACCT), Cathedral Square Corporation (CSC) and other partners yesterday to celebrate the opening of McKnight Lane, Vermont’s first net-zero energy affordable housing community. Formerly a blighted mobile home park, McKnight Lane  is a vibrant, new, affordable rental community featuring Vermods, modular,  high-efficiency homes manufactured in Wilder, Vermont. 

VHFA seeks public input on state's most urgent rental housing needs

VHFA's Executive Director Sarah Carpenter announced today that interested parties are invited to submit comments on how housing tax credits are allocated.  Housing tax credits are Vermont’s primary funding source for developing affordable rental housing.  The comments will be considered during this year’s upcoming revisions to Vermont’s Qualified Allocation Plan (QAP).  As administrator of the housing tax credit program, VHFA allocates credits to specific projects in accordance with identified State needs and Federal requirements outlined in the Vermont QAP.

Updates to Vermont Fire & Building Code take effect October 10, 2016

The Vermont Department Fire Safety announced last week that on October 10, 2016 the 2015 Vermont Fire & Building Safety Code will take effect.

The Code establishes the process to obtain a construction or operating permit, lists the codes and standards that are adopted and describes the process used to evaluate and grant a variance or exemption from the Code. 

 

 

 

Training offered in October on accessible and adaptable multifamily housing

Accessibility Matters is offering an online training program called  “Home Sweet Accessible Home:  Mitigating Liability in Accessible / Adaptable Multifamily Housing” on October 10th, 12th or 19th, 2016.

Learn more and register.

Twenty-three affordable apartments constructed in Hinesburg

Champlain Housing Trust opened a new apartment complex last week in Hinesburg constructed by Snyder Homes. The 23-unit complex includes 1, 2 and 3 bedroom units with rents ranging from $800 to $1,200 per month.

Federal and state housing tax credits allocated by VHFA provided 64% of the funding needed for the project's development. Additional partners included Vermont Housing Conservation Board, Vermont Community Development Program, the federal HOME program and Housing Vermont.

New fact sheets show impact and need for housing tax credits in VT

In Vermont, the federal Low-Income Housing Tax Credits allocated by VHFA have financed 6,513 apartments, providing affordable homes to 15,175 low-income Vermont households and supporting 7,360 jobs.

White House releases housing development tool kit for communities

In response to declining housing affordability in many parts of the country, the White House released a report this week on best practices for reducing local housing development barriers. The accumulation of these barriers has reduced the ability of many housing markets to respond to growing demand, the report explains.

Demand drives new home construction in northwest Vermont

Demand for apartments and denser neighborhoods is driving home construction in Chittenden and Franklin counties this year according to a recent article in Vermont Business Magazine that surveyed area builders and housing experts, including VHFA Executive Director Sarah Carpenter.

Carpenter explained that "more people are delaying the purchase of their first home and that in turn has put pressure on the rental market."

The critical, and mathematical, role of tax credits and other sources in housing low-income Vermonters

Ever wonder why it's not easier to build affordable apartments?  A new interactive tool developed by the Urban Institute illustrates the mathematical necessity of tax credits, loans, tenant income/rent and grants in paying for the costs of affordable housing.  Check it out to see if you can make the math work!

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