FOR IMMEDIATE RELEASE: May 5, 2025
[Putney, VT] Today, the Putney community celebrated the groundbreaking of Alice Holway Drive Apartments. Co-owners and co-developers, Windham & Windsor Housing Trust (WWHT) and Evernorth partnered to develop these 25 newly constructed, highly energy-efficient, and permanently affordable apartments in Putney, Vermont.
Alice Holway Drive is the new construction of 25 apartments in two buildings with five apartments set aside for households who are at-risk of or experiencing homelessness. Southeast Vermont Community Action (SEVCA) will provide wrap-around services for these designated apartments. WWHT’s SASH For All (Support and Services At Home) will provide both individual and community level services, support, and programming for all Alice Holway residents who wish to participate.
“It’s hard to describe how exciting it is to finally arrive at this important milestone,” said Elizabeth Bridgewater, WWHT’s Executive Director. “From the very beginning, we committed to building new homes on this site, while also making it possible for the Farmer’s Market and Community Gardens to remain. As we begin construction on 25 new homes and prepare to sell the remaining parcel to Green Commons of Vermont, I feel so proud that this original vision is now coming to fruition. I feel proud of my team, the community of supporters in Putney who showed up to advocate for this project and of the funders who maintained their commitment throughout the past three years. Together, we faced some strong headwinds, but we never took our eye off the prize. Vermonters everywhere need more housing opportunities and today, these opportunities are coming to Putney.”
The new homes will site adjacent to the community gardens and Farmers Market in Putney village and will extend, pedestrian access along Alice Holway Drive. Alice Holway Drive will be served by the MOOver a Southeast Vermont Transit (SEVT) commuter line running two morning routes and two afternoon routes between Brattleboro and Bellows Falls. These highly energy-efficient homes will utilize ground source heat pumps and solar energy, which, combined with an extremely tight thermal shell, will minimize the building’s carbon footprint.
“We are so glad to be breaking ground today on homes that will remain affordable for generations to come in Putney. We all prosper by taking care of community, and that is what happening today in the community of Putney by adding 25 new homes in this awesome location.” Said Kathy Beyer, Senior Vice President for Real Estate Development at Evernorth.
Funding and financing totaling $15 million from a mix of public and private sources was raised to cover the total development costs. Evernorth’s 481 Fund II (TD Bank, N.A.) provided the federal tax credit equity investment of $8.6 million, which is administered by the Vermont Housing Finance Agency (VHFA) and an additional $525,000 in Federal Investment Tax Credits. VHFA also provided $700,000 in Local Investment Advisory Committee (LIAC) Partnership funds and $400,000 in Housing Investments for Vermont (HIVE) funding. The Vermont Housing and Conservation Board contributed over $4 million, including $3 million in ARPA (American Rescue Plan Act) funding, $818,000 in general funds and $585,000 in HOME Funding. VT Agency of Commerce & Community Development’s Community Recovery & Revitalization Program provided $500,000. Other funders include Efficiency Vermont & Green Mountain Power Initiatives. Brattleboro Housing Partnership awarded the project 8 rental-assistance vouchers. TD Bank is providing the $8M construction loan. This development received the permit from the Town of Putney in 2022 which was promptly appealed to the Environmental Court and Vermont Supreme Court, followed by an appeal of the Act 250 Jurisdictional Opinion to both courts, resulting in 4 cases delaying the construction by 2 years.
For regular updates on this construction, visit our info page: https://www.homemattershere.org/alice-holway-drive-info-page/.
Vermont Integrated Architecture is the project architect. ReArch Company is the construction manager for the project.
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Windham & Windsor Housing is a mission-driven non-profit organization, established 35 years ago in response to increasing threats to the region’s supply of affordable housing. Their mission is to strengthen the communities of Southeast Vermont through development and stewardship of permanently affordable housing through ongoing support and advocacy for its residents. WWHT builds concrete solutions to the region’s housing challenges and provides better housing opportunities to more than 1,500 Southeastern Vermonters each year. To learn more about our upcoming development work visit our webpage www.homemattershere.org and scroll to the FAQ section.
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. Learn more at www.evernorthUS.org.
