Nothing illustrates the importance — and impact — of affordable housing and community development better than stories about the community itself. Learn about the people who develop and build the housing and the people who are built up because of it.
Congratulations to the Harrison Ridge team on a successful grand opening! Developed by the Developer’s Collaborative, these 48 new affordable apartments for adults 55 and older in Bridgton, Maine, mark a step forward in addressing the housing needs of older adults. Evernorth is a proud equity investor in these homes.
This commentary was written by Kathy Beyer and originally published by VT Digger on January 19, 2024.
In 30 years of working in real estate development, I have never seen construction pricing or supply problems like we are experiencing now.
Developed and managed by Easterseals New Hampshire, Champlin Place offers 65 newly constructed affordable homes for older adults in Rochester, NH, and is one important step in addressing the need for more affordable housing options in the state. Evernorth is a proud equity investor in these new homes.
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December 5, 2023
[Rutland, Vermont] — On Tuesday, a gathering of community members, funders, residents, state legislators, and others celebrated the official grand opening for the newly renovated Tuttle Block Apartments, situated in the heart of downtown Rutland. Located right on Center Street, the historic building now offers a total of 16 affordable apartments, with the renovation of the 13 original apartments and the conversion of the second-floor office space into 3 new apartments.
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December 4, 2023
[Colchester, Vermont] – The Champlain Housing Trust and Evernorth announced today the completion and occupancy of Stuart Avenue Apartments and the beginning of construction of 10th Cavalry Apartments which collectively will bring over 100 new permanently affordable apartments to the Town of Colchester.
Evernorth is excited to announce that Sherrin Vail, Vice President of Asset Management and Portfolio Initiatives, was awarded the Maine Real Estate Manager’s Association (MREMA) President’s Award at the 2023 MREMA annual conference in Carrabassett Valley, Maine.
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October 23, 2023
Williston, Vermont – At a press conference at a newly-converted motel into housing, leaders of the Building Homes Together campaign issued its annual report card on progress towards reaching housing production and affordability goals for Chittenden County. As housing costs continue to escalate and rental vacancy rates consistently failing to exceed even 1%, falling short of housing and affordability goals means the region’s economy and people will continue to struggle.
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October 18, 2023
[Hinesburg, Vermont] – Cathedral Square and Evernorth are pleased to announce construction is underway on Kelley’s Field II, 24 new energy-efficient affordable apartments for adults 55 and older in Hinesburg.
Situated next to Kelley’s Field I, Kelley’s Field II is the second phase in the larger Kelley’s Field development project and will offer 24 energy-efficient apartments – 23 one-bedrooms and 1 two-bedroom apartment with a mix of affordable and market-rate rents.
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October 11, 2023
[Bristol, VT] Today, the Bristol community celebrated the official grand opening of Firehouse Apartments with a ribbon cutting and an apartment tour. Co-owners and co-developers, Addison Housing Works and Evernorth partnered to develop Firehouse Apartments which will serve 20 low- and moderate-income households in downtown Bristol, close to amenities, recreational opportunities and community services.
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September 27, 2023
On Friday, September 22, 2023, the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI) announced Evernorth Rural Ventures, a subsidiary of Evernorth, was awarded a $60 million allocation of New Markets Tax Credits (NMTC) to continue its successful economic and community development work in low-income areas. This is Evernorth Rural Ventures’ 7th award.
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August 14, 2023
[Hardwick, VT] – Evernorth Rural Ventures and Massachusetts Housing Investment Corporation (MHIC) are pleased to announce the closing of $11.4 million in New Markets Tax Credit (NMTC) allocation for the redevelopment of the iconic “Yellow Barn” in Hardwick, Vermont. The NMTC funding supports the construction of a new 25,137 square foot food business accelerator building and the adaptive reuse of the vacant, historic 4,762 square foot yellow dairy barn for use as a retail shop, collectively called the Yellow Barn Business Accelerator.
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July 21, 2023
[Purney, VT] The Vermont Supreme Court has rejected the latest appeal by opponents of a proposed affordable housing community on Alice Holway Drive in Putney. The ruling by the state’s highest court affirms the Environmental Court’s decision earlier this year rejecting an appeal to the project’s zoning permit.
It marks the latest chapter of a 16-month legal process that began in March 2022 when an appeal was filed contesting the permit and delaying progress of the 25-unit mixed income development.
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