Multifamily management

VHFA hosted a conversation with the affordable housing community and policy leaders on April 2  about the challenges in insuring multifamily affordable housing in Vermont and nationally. The two-hour webinar included:

Seventy-five percent of affordable multifamily housing developments surveyed nationally reported insurance premium hikes over 10% between 2022 to 2023 according to a National Multifamily Housing Council report. Bloomberg and other news outlets have been reporting how “rising insurance rates are crushing affordable housing” which led to a Senate Committee hearing in Congress last year.

If you are one of the many Vermonters whose home was damaged by flooding earlier this month, public resources for temporary housing and home repair may already be available. 

A new program offered by the U.S. Department of Housing and Urban Development (HUD) will offer $837.5 million in grants as well as $4 billion in loan authority to help property owners to carry out energy efficient retrofits of HUD-assisted multifamily affordable housing. The Green and Resilient Retrofit Program (GRRP) is part of the Inflation Reduction Act (IRA) passed by Congress last August.

The Vermont Housing Finance Agency (VHFA) Board of Commissioners announced this week that its annual award of federal housing tax credits will support the construction of 109 permanently affordable apartments in five communities across the state. The sale of this year’s tax credits to investors is expected to yield nearly $25 million in funding, which will cover an estimated 55 percent of total project development costs. 

Vermont's housing funders will be able to leverage the impact of the tax credits and overcome pandemic-related increases in the cost of development by pairing the credits with an estimated $11.6 million in funding from the federal American Rescue Plan Act (ARPA), awarded through the Vermont Housing & Conversation Board. 

The Federal Home Loan Bank of Boston (FHLBB)'s Affordable Housing Program (AHP) will begin to accept applications on June 6, 2022. The program will award a minimum of $10.6 million in subsidy funding through member institutions to organizations promoting homeownership and rental housing opportunities for low income households. This funding will support critical housing resources during a time of extreme housing shortage, affordability crisis and rising development costs.

Do you need an affordable apartment, or know somehow who does? 

There are vacancies in 35 different apartment complexes across the state, according to the Vermont Directory of Affordable Rental Housing. Learn more about particular units by clicking on the development name below, or by visiting the vacancy profiles on the website.

Pictured:  French Block in Montpelier. Photo courtesy of Evernorth.

According to the Vermont Directory of Affordable Rental Housing, 50 affordable housing properties throughout the state have vacancy listings. To learn more about specific apartments, requirements and availability, click on the name of the property below or visit the vacancy profile link on our website. 

Are you or someone you know in need of an affordable rental apartment? According to the Vermont Directory of Affordable Rental Housing, there are apartments vacant in 50 affordable housing complexes throughout the state of Vermont. To learn more about specific housing units, requirements and availability, click on the name of the development below or visit the vacancy profile link (https://www.housingdata.org/find-rental-housing/vacancies) on our website. 

Mental health update– June 9

Presented by Thomas Burr, NAMI Connecticut, Inc.

This webinar will educate participants on mental health and mental illnesses, explore the role that trauma plays in mental health, as well as the stigma that mental health holds in society. The session will provide tips for maintaining good mental health, teach participants how to identify someone who may be struggling, and how to best support them and connect them to resources. The session will also explore the latest research and treatment options.

WHEN
Tuesday, June 9, 2020
1:00 PM - 2:00 PM
Eastern Time