Residents of Parkview Apartments in Newport celebrated energy-efficient improvements to their apartment complex at a ribbon-cutting ceremony held last week. The $3.1 million project was overseen by RuralEdge, which owns the twelve affordable units. The project was supported by Vermont Housing Finance Agency (VHFA), which awarded state and federal tax credits as well as a construction loan.
The renovations include rooftop solar panels, updated heating and cooling systems, new windows and doors, and improved insulation, transforming the complex into one of the most energy-efficient affordable housing developments in the state. Prior to the renovations, the units had electric storage heat, which led to high utility bills. The weatherization and energy upgrades will dramatically reduce heating and cooling costs, making the apartments even more affordable for its low-income tenants.
Residents are also enjoying updated kitchens and bathrooms, a newly paved driveway and parking spaces, and an upcoming update to the neighborhood playground. These renovations bring the complex, originally constructed in 1980, up to modern energy-efficiency, safety, and accessibility standards.
This project also received funding from USDA Rural Development and Vermont Housing & Conservation Board (VHCB).