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Fourteen new affordable apartments in Randolph

Posted by: cindy reid on December 7, 2011 - 2:18pm


There was standing room only at the Salisbury Square Apartments’ ribbon cutting in Randolph yesterday. Julie Iffland, Executive Director of Randolph Area Community Development Corporation (RACDC), thanked supporters and provided tours of the fourteen new, energy efficient, affordable apartments.  Ten apartments are located in two new buildings on School Street, and four apartments are in a new addition to a historic building that was once part of the Ethan Allen Furniture Company. 

Adjacent to Randolph’s downtown, the apartments are within walking distance of services and stores. RACDC spent years cleaning up the site which had been environmentally contaminated. The site includes open space and permits are in place to build for-sale homes as the real estate market improves.   

RACDC’s board and staff devoted considerable planning time and care to ensure that this new neighborhood meets the needs of the Randolph community. Sixty applications have already been submitted for the 14 new apartments.

This project was funded with a combination of sources including: pre-development loans and Housing Credits and Tax Credit Assistance Program funding from VHFA; HUD’s Economic Development Initiative; Vermont Housing & Conservation Board; Vermont Community Development Program; Vermont Community Loan Fund; Vermont Brownfields Revitalization Fund; Vermont Community Foundation; and Housing Credit Investors Mascoma Bank and Housing Vermont’s Green Mountain Equity Fund.

Photos:
On left: New 5-unit building on School Street
On right: From L to R, Tim Estes, Estes & Gallup (General Contractor); Julie Iffland, RACDC Executive Director; Kent Eaton, Scott & Partners, architect for the new buildings on School Street.

 

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