Press Releases Archives - Page 4 of 5

Press Releases | 9/22/22

Evernorth Creates Workforce Housing Loan Fund for Upper Valley

FOR IMMEDIATE RELEASE
September 22, 2022

[Burlington, Vermont and Portland, ME] – Evernorth is pleased to announce that it closed an $8.95 million loan fund capitalized with investments from eight major Upper Valley employers. Dubbed the Upper Valley Loan Fund (the Loan Fund), this fund will loan money to developers and other entities to build affordable apartments targeted to renters with moderate incomes. The Loan Fund will help catalyze rental housing production in a segment of the market serving employees who are increasingly priced out of the housing in the area.

Due to the critical housing shortage in the Upper Valley region of New Hampshire and Vermont, area employers increasingly cite the lack of access to quality affordable housing as a key barrier to recruitment and retention of employees. According to a recent report by Vital Communities, a regional civic engagement organization, the Upper Valley needs 10,000 new homes by 2030 to meet demand (requiring a tripling of the current annual rate of housing production).

Eric Schmitt, Sherrin Vail & Josh McIntyre

Press Releases | 8/30/22

Evernorth Announces Key Leadership Changes

FOR IMMEDIATE RELEASE
August 30, 2022

[Burlington, Vermont / Portland, Maine] — Evernorth is pleased to announce several key leadership changes that will enhance operations at the organization.

Eric Schmitt has been named Evernorth’s first Chief Operating Officer. We are excited to see Eric move to this role where his strong leadership and organizational skills will add great value to the flow of operations within Evernorth.

Sherrin Vail has been promoted to Vice President of Asset Management and Portfolio Initiatives. As the VP of Asset Management and Portfolio Initiatives she will have greater responsibilities across the entire Evernorth geographic footprint.

Josh McIntyre has joined the staff as Vice President of Capital Management. Josh comes to Evernorth with over 15 years of experience in the finance world — in the private and public sector.

Development, Press Releases | 7/22/22

Joint Public Statement: Bemis Block Apartments Accidental Fire

FOR IMMEDIATE RELEASE:
July 22, 2022

[Morrisville, Vermont] – On Wednesday, July 20th at 9:30AM, a fire broke out in an apartment in the Bemis Block Apartments building located in downtown Hardwick. The fire was caused by a lit candle in a resident’s apartment. The sprinkler system immediately doused the fire which successfully prevented it from spreading throughout the building and endangering other residents. Area firefighters and emergency crews responded to the site quickly. Upon assessment of the scene, firefighters turned off the sprinkler system. Firefighters remained on site and were joined by building management technicians and clean up professionals to assess the damage.

No injuries to people or property damages in the vicinity related to the fire are known at this time. A building assessment is underway by insurance professionals. The cause of the fire is known and not considered suspicious. Assessment and clean-up efforts are ongoing.

Development, Press Releases | 7/5/22

Joint Public Statement: Village Center Apartments Affordable Housing Construction Site Fire

FOR IMMEDIATE RELEASE:
July 5, 2022

[Morrisville, Vermont] – At 8:00 AM on Sunday, July 3, a passerby in downtown Morrisville noticed a fire at the Village Center Apartments affordable housing development and contacted emergency responders. Area fire departments responded quickly. Firefighters successfully contained and put out the fire, and remained on site for several hours to ensure that the fire did not reignite.

Village Center Apartments is currently under construction and does not have residents residing in it presently. Work crews were not at the job site the day of the fire. No injuries to people or property damages in the vicinity related to the fire are known at this time.

Development, Press Releases | 6/15/22

Stowe Celebrates the Opening of New Affordable Apartments Located in Stowe Village

FOR IMMEDIATE RELEASE:
June 14, 2022

[Stowe, Vermont] – Tuesday morning brought together residents, funders, community members, local legislators and two affordable housing organizations to celebrate the completion of 9 new homes and to officially kick-off the second phase of River Bend Apartments.

River Bend Apartments represents the first opportunity that Lamoille Housing Partnership (LHP) and Evernorth have had to develop affordable housing in Stowe in 10 years. These energy efficient, affordable homes will provide much-needed housing and combine both preservation of existing apartments and new construction in order to best meet the needs of the community.

Development, Press Releases | 3/7/22

Evernorth Closes Third Multi-Investor Fund

FOR IMMEDIATE RELEASE:
March 7, 2022

Evernorth closed its third multi-investor fund – Housing New England, Fund III – on March 4, 2022. This fund will provide equity to finance affordable housing in Maine, New Hampshire and Vermont.

21 investors committed a total of $82.5 million in equity making Housing New England, Fund III (HNE Fund III) a significant financial resource for the region’s critical affordable housing needs. HNE Fund III’s investors include community, regional and national banks as well as one of the nation’s largest mortgage banking organizations.

Community, Development, Press Releases | 12/14/21

Building Homes Together Campaign Announces Bold Five Year Plan

FOR IMMEDIATE RELEASE:
December 14, 2021

Burlington, Vermont – This morning the Building Homes Together campaign launched its second five year targets for making Chittenden County’s housing market healthier, more equitable, and more affordable. Supported by over 125 local leaders, the campaign’s goals include creating 5,000 new homes, with 1,250 permanently affordable, over the next five years. The new homes would include a combination of new rental and homeownership development.

Development, Press Releases | 12/8/21

Historic New Avenue Building is Officially Reopened in the Heart of Downtown St. Johnsbury

FOR IMMEDIATE RELEASE:
December 8, 2021

[St. Johnsbury, VT] Evernorth, RuralEdge, New Depot Square Commercial Properties, LLC, funders, elected officials and community members were among those that celebrated the much-anticipated re-opening of New Avenue that is already bringing new life and vitality to downtown St. Johnsbury.

Development, Press Releases | 11/17/21

Brattleboro Celebrates Opening of Second Phase of Red Clover Commons Apartments – Completing the Red Clover Commons Neighborhood

FOR IMMEDIATE RELEASE:
November 15, 2021

[Brattleboro, VT] The completion of the second phase of Red Clover Commons represents the culmination of an important community building effort begun 10 years ago when Tropical Storm Irene severely flooded the 80 apartments at Melrose Terrace, a public housing development in West Brattleboro. This second phase at Red Clover Commons is comprised of 18 newly constructed homes for former residents of Melrose Terrace. The 3-story, energy efficient building offers 17 one- bedroom apartments and one two-bedroom apartment and completes the Red Clover Neighborhood.

Development, Press Releases | 9/8/21

Evernorth Rural Ventures Awarded $60 Million in New Markets Tax Credits

FOR IMMEDIATE RELEASE:
September 2, 2021

The U.S. Treasury Department announced on Wednesday that Evernorth Rural Ventures, a subsidiary of Evernorth, was awarded a $60 million allocation of New Markets Tax Credits (NMTC) to continue its successful economic development work in low-income areas.

Development, Press Releases | 8/20/21

Construction Begins on New Affordable Housing in Downtown Morrisville

FOR IMMEDIATE RELEASE:
August 20, 2021

Morrisville, VT – Lamoille Housing Partnership (LHP) and Evernorth are pleased to announce construction is underway on Village Center Apartments, 24 new energy-efficient affordable apartments for low and moderate income residents in the heart of downtown Morrisville.

Development, Press Releases | 8/13/21

Upper Valley Community Celebrates Completion of Affordable Apartments at Wentworth Community Housing in White River Junction

FOR IMMEDIATE RELEASE:
August 11, 2021

White River Junction, VT – Wednesday morning brought together residents, funders, community members, local legislators and two affordable housing organizations to celebrate the completion of the second phase of Wentworth Community Housing, 17 mixed-income apartments in White River Junction and four new apartments located a few miles away in the Village of Wilder.

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