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Development

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!

Housing tax credits help renovate Lyndonville's Darling Inn


From L to R: Ted Brady (USDA), Jenny Nelson (Senator Sanders
office), Werner Heidemann (RuralEdge), Senator Leahy, Jen Hollar
(VHCB) and Sarah Carpenter (VHFA).  Photo by Elwin Prescott.

Affordable housing tops concerns in UVM Medical Center community survey

Lack of affordable housing is the community challenge that survey respondents are most concerned about, according to the recently released 2016 Community Health Needs Assessment.  Among survey respondents, 58.3 percent rated lack of affordable housing as the top concern, followed by 52.5 percent for drug and alcohol abuse.  

Collins lends a voice in Essex Junction debate about pace of development

“I want more...” explains VHFA’s Director of Policy and Administration Maura Collins in a recent letter to the editor of the Essex Reporter. Collins is a long-time resident of Essex Junction who felt it was time to share her ideas about future expansion of the Junction’s housing stock and population.

“We see beauty in the new faces, appreciate the increasing diversity of housing types and residents, and want to champion thoughtful growth…. We want more...” writes Collins.

Metamorphosis begins for once-decaying mobile home park near Vergennes

After sitting vacant for six years, the Gevries mobile home park in Addison County has started redevelopment.  VHFA provided housing tax credits that will cover an estimated 60 percent of the project’s costs and ensure that the new 14-home community will be affordable for low-income renters of all ages. By installing VERMOD high-performance duplex homes, developers Cathedral Square Corporation and Addison County Community Trust anticipate that the neighborhood will achieve net-zero annual energy costs, another critical component of its long-term affordability. 

Ground breaking at Elm Place in Milton celebrated

Executive Director Sarah Carpenter joined partners from Cathedral Square and other agencies to launch construction of Elm Place, a 30-unit building for seniors in Milton. Elm Place will be Vermont’s first multi-family building certified to Passive House standards. Better windows and doors, added insulation and improved air sealing are expected to enable the building to use roughly 65 percent less energy. 

New tools help real estate professionals appraise energy-efficient, high performance homes

The Vermont Green Home Alliance has completed the guide Appraised Value and Energy Efficiency: Getting It Right for building design professionals, builders, home performance contractors, appraisers, lenders, and real estate agents. This guide is intended to help professionals prepare for the increasing level of high performance new home construction and existing home energy efficiency improvement happening in Vermont.

VHFA awards millions in tax credits for affordable housing: Credits create 31 permanent homes for people who are homeless in four communities

BURLINGTON, VT -- On Monday, April 18, the Vermont Housing Finance Agency (VHFA) Board of Commissioners committed federal low-income housing tax credits and state affordable housing tax credits that will provide almost $25 million in upfront equity to construct and renovate housing for low-income Vermonters and will increase permanent supportive housing for people who were formerly homeless.

Unconscoius bias & fair housing 101

Our brains process information differently. When making important life decisions, we weigh a few factors deliberately (slowly). But for hundreds of other factors, we must rely on intuitive judgment — and we weigh these unconsciously (quickly). Even if in our slow thinking we work to avoid discrimination, it can easily creep into our fast thinking.

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