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Ribbon cut on new Colchester apartments

Posted by: VHFA on February 22, 2010 - 3:37pm

ribbon_brookside

Folks from Vermont Housing Finance Agency, Champlain Housing Trust, Housing Vermont and others cut the ribbon on a new development of affordable apartments in Colchester.

Brookside Village, off Mallets Bay Avenue near the Winooski/Colchester border, adds 42 units of much-needed family housing to Chittenden County's affordable housing stock.

The $9.6 million project includes 31 two-bedroom units, eight one-bedrooms, and three three-bedroom units. Nearly all are leased.

VHFA provided a $60,000 pre-development loan and allocated $585,000 in federal Housing Credits to the project. Those credits were converted to $4.68 million in Federal Exchange funds.

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