A long-awaited groundbreaking ceremony took place in Putney on May 5th for the Alice Holway Drive development. The development will include 2 new buildings that provide 25 energy-efficient, accessible, and affordable apartments.
The project was delayed due to a small group of Putney residents appealing the project permits in 2022. The cost associated with the delay of construction, as well as legal fees while the case moved through the court of appeals, ultimately resulted in a $2 million budgetary increase. Most importantly, the project’s opposition ultimately prolonged addressing an identified need for affordable housing in the Putney area for mixed income families and individuals.
In November 2024, the case was decided by the Vermont Supreme Court in favor of developers Windham & Windsor Housing Trust and Evernorth. In a statement on Windham & Windsor Housing Trust’s website, Executive Director Elizabeth Bridgewater said, “We appreciate the many Putney residents and project funders for their unwavering support. These failed appeal attempts have delayed this project for too long and we are excited to break ground this spring.”
The development will consist of 13 one-bedroom and 12 two-bedroom apartments with rents ranging from approximately $961 - $1,539 per month, depending on income.
Total development costs are $15 million, including the additional amount due to the delays to the project. Financing from the Vermont Housing Finance Agency (VHFA) through the Local Investment Advisory Committee (LIAC) Partnership, the HIVE (Housing Investments for Vermont) fund, and Low-Income Housing Tax Credits will cover an estimated 64% of the project’s development costs. VHFA is proud to be a part of the project, bringing affordable new homes to Vermonters.
Other funding sources include American Rescue Plan Act of 2021 (ARPA) funds through the Vermont Housing and Conservation Board, HUD HOME, Community Recovery & Revitalization Program, Investment Tax Credits for renewable energy projects, and Efficiency Vermont.
More information about Alice Holway Drive can be found online at the Windham & Windsor Housing Trust website.
PHOTO: Image of Alice Holway Drive development project in Putney, VT.