Construction of new affordable housing in Bristol city center begins

20 energy-efficient apartments will help meet the county’s workforce housing challenge

Vermont Business Magazine Co-owners and developers, Addison County Community Trust (ACCT) and Evernorth, have announced that construction is underway on the $8.6 million Firehouse Apartments which will serve 20 low- and middle-income households in downtown Bristol. The Firehouse Apartments represent a vital part of a public/private partnership bringing municipal services, business incubation and mixed-income housing to Bristol’s growing community on the Stoney Hill property.

This partnership between the City of Bristol, private developers and non-profit housing organizations ACCT and Evernorth leverages investments in municipal infrastructure and job creation to serve 20 households in a community where there was no previously only nine affordable housing units with no age limit.

Firehouse Apartments will be adjacent to a brand new business park, next to the new fire station, across from the regional high school and recreation grounds, and just a quarter mile from the community’s town center . These all-electric, high-performance homes will be designed and built to Enterprise Green Communities certification standards, resulting in resilient, healthy, efficient and eco-friendly homes connected to transport, essential services and a wide range of quality services. – living conveniences.

We are thrilled to innovate today on homes that will forever remain a community asset in Bristol,” said Evernorth Co-Chair Nancy Owens. “Like your investment in roads, sewers, schools and municipal buildings, this housing will remain in Bristol to serve the community as infrastructure you can rely on.”

Funding totaling over $8.6 million from a mix of public and private sources has been raised to cover all development costs. Housing New England (HNE) Funds II and IV provided the $4.5 million tax credit capital investment for this project, which is administered by the Vermont Housing Finance Agency. The Vermont Housing and Conservation Board contributed more than $3 million, including $1.4 million in American Rescue Plan Act funding and $520,000 in HOME funds. NBT Bank invested in the HNE fund and also provided the permanent loan of $345,000. Other sources of funding include the City of Bristol through the Vermont Community Development Program and Efficiency Vermont.

“We are grateful to our funders and partners for supporting this much-needed affordable housing,” said ACCT Executive Director Elise Shanbacker. “Firehouse Apartments will create a new neighborhood in Bristol where people can send their children to school across the street, walk to work and the city center and have easy access to leisure trails at proximity.”

The Firehouse Apartments are scheduled to open in the spring of 2023. The apartments will serve a range of families and individuals, from those who are homeless to those earning 120% of the region’s median income, responding to the challenge of shortage of workforce housing in Addison County.

Steve Schenker of S2 Architecture is the architect of the project. The buildings were originally designed by Cushman Architecture as part of the main development. Naylor and Breen is the construction manager.

In 2015, Stoney Hill Properties (SHP), LLC, a partnership created by Kevin Harper and David Blittersdorf, purchased a 12.5 acre parcel from the City of Bristol with the vision of a mixed-use development including municipal buildings , residential and commercial, all in the central area of ​​Bristol Village. “Following the completion of Bristol’s new fire station in 2016 and the infrastructure improvements in 2021, the fire station apartments will be the next major step to see this project unfold,” said Kevin Harper, SHP, LLC Manager Member. “My partner, David Blittersdorf and I are thrilled with the progress of this private/public partnership, none of which could have happened without the overwhelming support of the city, the Addison County Economic Development Corporation and the community in its together,” Harper continued. .

The Addison County Community Trust (ACCT) develops, owns and manages over 700 perpetually affordable housing units in Addison County, VT, including multi-family rental apartments, mobile home parks, single-family home ownership opportunities and a support program and of home services (“SASH”) for the elderly in the region . ACCT has been purchasing and preserving mobile home parks and single-family homes since its inception in 1989. In 2005, ACCT began developing multi-family rental properties in partnership with Housing Vermont, as well as managing the existing portfolio of Addison County Multi-Family Tax Credit Partnerships. As of 2022, ACCT owns and/or manages 334 multi-family apartments, including 168 developed or renovated with Housing Vermont and other development partners. addisontrust.org

Evernorth is a non-profit organization serving low- and middle-income people in Maine, New Hampshire, and Vermont with affordable housing and community investment. Evernorth has raised and deployed over $1 billion in affordable housing equity and built over 15,000 affordable homes and apartments for low- and middle-income people in northern New England. Learn more about www.evernorthUS.org.

10.26.21022. [Bristol, VT]. Evernorth evernorthus.org

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