Middlebury’s Stonecrop Meadows housing project receives key funding

At its May meeting, the Vermont Housing and Conservation Board (VHCB) approved $2,930,630 in funding for seven conservation projects that will protect 1,682 acres in five counties, and $32,843,765 to support seven housing projects in six counties around the state. 

The awards for housing developments will enable the construction of permanently affordable rental homes for individuals, families, older residents, and households experiencing homelessness, in addition to providing project capacity funds for outreach activities to expand Champlain Housing Trust’s (CHT) Homeownership Equity Program Down Payment Assistance statewide.

“Our Board is proud to commit funds to developments that improve equity and access to healthy, permanently affordable homes that benefit our communities,” said VHCB Executive Director Gus Seelig. “We are grateful for our partners’ dedication to building this much-needed housing in areas where infrastructure is readily available, limiting the impact of development on our natural areas.”

$5,670,000 was awarded to Summit Development for the new construction of a 35-unit apartment building in Middlebury. This project is the first phase of a multiphase mixed-income rental and homeownership development and will offer studio, one-, two- and three-bedroom apartments targeted for residents at a mix of income levels. Six units will be set aside for individuals exiting homelessness and referred through the local coordinated entry system. In January, VHCB committed funds to Addison Housing Works to support six units of shared equity homeownership in this new neighborhood.