Last week, Vermont Housing Finance Agency (VHFA) joined Representative Peter Welch and housing partners in Winooski to celebrate the completion of Parc Terrace. The 46-apartment mixed-income project was developed by Summit Properties in collaboration with Dagesse Company. The $11.6 million project received federal housing Low Income Housing Tax Credits awarded by VHFA, which were sold to raise over $8 million in equity for construction.  

In the newest installment of VHFA's housing video series, VHFA Executive Director Maura Collins interviews Vermont Housing & Conservation Board Policy Director Jennifer Hollar on how federal American Rescue Plan Act pandemic recovery funding is being used to create new affordable homes for Vermonters. 

The interview discusses how $144 million in new state and federal funding is being allocated, with 1,158 new homes expected to be created by the end of 2023. Already, 459 of those homes have been designated for Vermonters who are at risk of or experiencing homelessness.

There's still time to register for the statewide full-day Housing Summit on Wednesday, October 13 in Arlington. VHFA will join other experts in sharing case studies and best practices to promote affordable housing development. Municipal officials, housing developers, nonprofits, legislators and anyone having an interest in supporting the development of quality housing is encouraged to attended. Participants must register by no later than October 6th. More details and registration instructions are available in the event flyer. 

New England Federal Credit Union (NEFCU) President/CEO John J. Dwyer, Jr. announced at a press conference held today at their headquarters in Williston a $3 million contribution to Vermont Housing Finance Agency (VHFA)’s Housing Investment fund. The money will be awarded by VHFA over the next three years to developers to address Vermont’s critical need for affordable rental housing and homeownership opportunities. 

“The housing shortage in Vermont, already a crisis, has been made even worse by recent events,” noted Dwyer.  “Major, immediate action is needed. In line with our ongoing mission of community support, we are beginning a comprehensive campaign that will provide multiple solutions to this complex challenge.”