Amidst Burlington’s ever-tightening rental market, residents and supporters gathered yesterday to celebrate the preservation and renovation of the Bobbin Mill Apartments. This 51-unit complex houses local renters with incomes at or below 50% of the area median.

VHFA was proud to provide critical housing tax credits, acquisition bridge financing and MacArthur Foundation funding to help pay for the recent renovations, conducted in partnership with Housing Vermont and Burlington Housing Authority, the project’s current owner.

In addition to federal FHA mortgage insurance program modifications, President Obama announced this week his support for other ways to improve the availability of affordable owner and rental housing, including several initiatives administered by VHFA and partner housing agencies in other states.

Regarding housing finance reform, the President explained the importance of:

Last Thursday, VHFA staff stuffed many pairs of hats, mittens and gloves with yummy holiday candy that were then sent on their way to the children of the Sara Holbrook Youth Center.

The Sara Holbrook Youth Center has helped over 650 children by providing low-income families with educational and recreational programs.

Check out this new report from the U.S. Department of Health and Human Services. The Support and Services at Home (SASH) program was launched in 2013 and has connected residents with community based health services. This program was set up to "decrease health care expenditures for elderly residents of affordable housing developments." Vermont SASH participants were studied in a recent evaluation of the program's first year of implementation.