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Demand drives new home construction in northwest Vermont

Posted by: Leslie Black-Plumeau on 9/20/2016

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 number of multifamily project building permits in the Burlington South Burlington area shot up 72% during the first half of 2016 over the same period a year earlier, according to the National Association of Home Builders.

Pictured: New 40-unit rental cooperative on Bright Street in Burlington's Old North End neighborhood. Photo provided by U.S. Department of Housing and Urban Development