Thursday September 27, 2018
City and state leaders used ceremonial shovels to mark the beginning of construction of 60 new apartments in South Burlington as part of a long-planned City Center. On hand were South Burlington City Council President Helen Riehle and Sen. Tim Ashe.
The apartments, named Garden Apartments, are being developed by Snyder Braverman Development Company, which has an agreement to sell the building to the Champlain Housing Trust (CHT) and Housing Vermont. The apartments will remain affordable forever.
“This is just the latest in a number of celebrations here in South Burlington’s new City Center marking our progress,” said Riehle. “This new affordable housing is another important step in the culmination of a long-dreamed center that will demonstrate and reflect the community’s inclusive values.”
Nearly a quarter of the funding for the development, $3.9 million, came from Vermont’s recently passed Housing for All bond. Sen. Ashe, a leader in the effort to pass the $37 million bond, said, “This is exactly what we envisioned when we committed to investing in communities, in places to live for low and moderate income people, and our economy.”
The apartments will be built at the corner of Market Street, which is also under construction, and a yet-to-be constructed extension of Garden Street.
According to Champlain Housing Trust, South Burlington established one of only a handful of affordable housing trust funds in the state, and has contributed $75,000, in addition to sponsoring an application for state funds through the Vermont Community Development Program.
Other funders and participants in the project include NeighborWorks America, the Vermont Housing and Conservation Board, Vermont Housing Finance Agency and TD Bank.
The 60 apartments will be a mixture of sizes. There will be 26 one-bedroom, 20 two-bedroom, 11 three-bedroom and three four-bedroom apartments. Occupancy is expected in the fall or early winter 2019.