FOR IMMEDIATE RELEASE: November 17, 2025
[West Rutland, Vermont] — Today, the West Rutland community celebrated the grand opening of Marble Village Apartments. Co-owners and co-developers, Cornerstone Housing Partners and Evernorth, partnered on Marble Village Apartments, which will provide essential housing for 24 low- and moderate-income households.
Marble Village Apartments is the redevelopment and remediation of three vacant properties into 24 newly constructed, energy efficient, permanently affordable homes in the community. The 3-story building has an inviting outdoor community space, community gardens, and green space so that residents can gather and enjoy time outdoors, as well as off-street parking to support accessibility and community needs.
“We appreciate the support of our partners and funders in making these much-needed affordable homes a reality,” said Mary Cohen, Chief Executive Officer of Cornerstone Housing Partners. “Marble Village Apartments is a critical step in addressing housing needs and providing safe, stable homes. Cornerstone Housing Partners is proud to be part of the collaborative effort that brought this project to life.”
Ideally located in the heart of West Rutland’s Village Center, Marble Village Apartments is within walking distance of essential services and amenities, including a local supermarket, pharmacy, restaurants, a post office, a library, and West Rutland School—all less than half a mile away. The project is located just four miles from downtown Rutland, a quick 10-minute drive, providing residents access to regional services and major employers. Additionally, Marble Valley Regional Transit offers seven-day-a-week service to West Rutland on its Fair Haven-to-Rutland route, a convenient public transportation option for residents which supports businesses as well.
“We are so glad to be opening 24 homes that will remain a community asset in West Rutland forever,” Evernorth’s Sr. Vice President of Real Estate Development, Kathy Beyer said. “By creating permanently affordable housing, Marble Village Apartments will provide affordable rents not only for the residents moving into their homes next month but will also be affordable for generations to come.”
Funding and financing totaling over $13 million from a mix of public and private sources was raised to cover the total development costs. Evernorth’s Housing New England (HNE) Fund, VI provided the tax credit equity investment of $7.8 million for this project, which is administered by the Vermont Housing Finance Agency. The Vermont Housing Finance Agency also provided a $750,000 LIAC Loan. The Vermont Housing and Conservation Board contributed over $2.3 million, including over $1 million in National Housing Trust Funds. The Vermont Agency of Commerce & Community Development provided a $475,000 CRRP Grant and $600,000 from the Brownfield Revitalization Fund. Green Mountain Power and Efficiency Vermont are other funders. NBT Bank provided the construction loan. The Rutland Housing Authority is providing project-based rental assistance.
Marble Village Apartments is a high performance energy efficient building with electrification for heating and cooling; with these efforts, the building will reduce its carbon impact by over 71 tons per year.
VT Integrated Architecture is the project architect. Naylor & Breen is the project Construction Manager.
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Evernorth is a nonprofit organization serving the low and moderate income people of Maine, New Hampshire and Vermont with affordable housing and community investments. Evernorth has raised and deployed over $1.6B in equity capital for affordable housing and built more than 17,000 affordable homes and apartments for low and moderate income people across northern New England. https://evernorthus.org/
Cornerstone Housing Partners is a 501(c)(3) non-profit corporation that develops, manages, and maintains supportive affordable housing using the community land trust (perpetual affordability) model throughout Rutland and Bennington Counties. Cornerstone Housing Partners also offers sustainable homeownership services to perspective and current homeowners in Addison, Bennington and Rutland Counties, with some programs available statewide. Learn more at www.cornerstonehousingpartners.org
