FOR IMMEDIATE RELEASE: December 5, 2023
CONTACT: Lisa Patlis, (802) 861-3814
[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.
Originally constructed in 1905 for the Tuttle Publishing Company, the newly renovated building now offers a total of 16 affordable apartments, including 1 studio, 13 one-bedrooms, and 2 two-bedrooms, catering to a range of housing needs. Additionally, two commercial spaces on the street level add vibrancy to the downtown area. Three of the apartments serve people who were at risk of becoming homeless or were experiencing homelessness.
“Tuttle Block holds historic significance for the community and its restoration is an excellent example of what’s possible when historic preservation and economic revitalization work,” said Mary Cohen, Executive Director of the Housing Trust of Rutland County. “Now the block will be a place where people can live, work, eat, shop and appreciate Rutland’s continued success and liveliness.”
The Housing Trust of Rutland County and Evernorth partnered to co-develop the Tuttle Block and also co-own the property. The redevelopment offered the two nonprofits an opportunity to upgrade the building’s mechanical systems, replace windows, install new kitchens and appliances, fire safety and code upgrades, elevator upgrades, and thermal shell improvements, which greatly increases the building’s energy efficiency.
Tuttle Block Apartments are conveniently located and within walking distance of a variety of services and resources, including the Rutland Area Food Coop, Rutland Free Library, Rutland Plaza Shopping Mall, Rutland Community Cupboard, Paramount Theater, grocery stores, schools, banks, and more making it a convenient and vibrant community center.
“Tuttle Block Apartments is a perfect example of how we can seamlessly integrate history with the evolving needs of our community.” said Kathy Beyer, Vice President of Real Estate Development at Evernorth. “It’s vital to preserve affordable housing in downtowns and village centers, and Tuttle Block Apartments stands as a model for sustainable downtown development.”
Funding totaling more than $4 million from several private and public sources was raised to finance the total development cost. Housing New England (HNE) Funds I & II provided the equity for the project, investing over $1.7 million through the Low Income Housing Tax Credit Program, which is administered by the Vermont Housing Finance Agency. Vermont Housing & Conservation Board contributed over $1.8 million, including in American Rescue Plan Act (ARPA) funding, the National Trust Fund and HOME funds. The U.S. Department of Housing and Urban Development (HUD) is providing project-based rental assistance. Union Bank provided the Vermont State Tax Credits. Energy efficiency incentives were provided by both 3E Thermal and Green Mountain Power. Arnold & Scangas Architects was the project architect. VMS was 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 $1B in equity capital for affordable housing and built more than 15,000 affordable homes and apartments for low and moderate income people across northern New England. Learn more at www.evernorthUS.org.
Housing Trust of Rutland County 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 County. Based in downtown Rutland, the Housing Trust provides full-service property management and maintenance services, including 24/7 emergency response. The Housing Trust currently provides apartments and mobile home lots in Benson, Brandon, Castleton, Fair Haven, Ludlow, Poultney, Rutland City and West Rutland. Learn more at www.housingrutland.orgThe Housing Trust is very much a grass roots organization, providing much of its outstanding service through partnerships with local businesses, proudly paying its property taxes and other municipal charges, and responding to neighborhood concerns and community needs. www.housingrutland.org
