On Tuesday, July 1, VHFA staff, co-developers Windham & Windsor Housing Trust and Evernorth, and other partners gathered to celebrate the opening of Central & Main Apartments in Windsor, VT. The project aims to address the need for more affordable housing and economic growth.
Located in the town’s designated historic district on land donated by the Windsor Improvement Corporation, the mixed income project includes 25 affordable apartments including studio, and 1- and 2-bedroom units. Affordable to a wide range of Windsor residents, six of the apartments are designated as supportive housing for Vermonters exiting homelessness and 2 units for adults with disabilities. The Springfield Supported Housing Program will deliver services to those residents including help with budgeting, employment assistance, education, childcare, and other services.
Initial development of the lot, located next to the Windsor Diner, included a redesign of the building from 4 stories to 3 stories and a Corrective Action Plan (CAP) to remove contaminated soil from the building site. These changes were completed but at an increased construction cost. The resulting building meets a significant need for affordable housing in the Windsor area.
Funding for the project came from a mix of public and private sources. VHFA provided federal tax credits that paid for more than half of the project’s development costs. Other funding sources included the Vermont Housing & Conservation Board (VHCB), HUD’s Housing and Economic Development Initiative, Vermont Department of Economic Development Brownfield Fund, Evernorth Loan Fund (Upper Valley Loan Fund), Town of Windsor, and other local sources. Project-Based vouchers are being provided by the Vermont State Housing Authority.
Now open for occupancy, the high-performance building offers safe and energy-efficient homes that are affordable for a wide range of income levels. Stewart Property Management asks that interested parties visit their website for rental information.
Photo Credit: Chad Simmons