FOR IMMEDIATE RELEASE: June 27, 2023
CONTACT: Lisa Patlis, (802) 861-3814
[Morrisville, Vermont] -Today, the Morrisville community celebrated the official grand opening of Village Center Apartments with a ribbon cutting, apartment tours, ice-cream and face painting. Lamoille Housing Partnership (LHP) and Evernorth partnered to repurpose an infill lot and develop this highly energy efficient, multifamily apartment building in downtown Morrisville, close to amenities, recreational opportunities, and community services.
Village Center Apartments includes 24 new affordable homes for low- and moderate-income residents, including 6 apartments that are reserved for households facing homelessness, right in the heart of downtown Morrisville.
“Village Center Apartments will reinvigorate Morrisville’s downtown, supporting the community’s continued success and vibrancy into the future, remarked Jim Lovinsky, LHP’s Executive Director. “We believe that success starts at home, and Village Center Apartments creates opportunities for all community members to thrive.”
Co-owners LHP and Evernorth worked in partnership with Vermont Integrated Architecture and Neagley & Chase to design the building using an integrative process with a focus on resident well-being, environmental benefits, and cost-containment. The innovative design will use no fossil fuels, ensuring long term affordability and sustainability.
“Any day that we break ground on new homes is a day of celebration,” said Nancy Owens, Evernorth’s President. “We are especially excited to celebrate with our partners today on the creation of 24 much needed homes for people in our community that will remain a community asset in Morrisville forever.”
The new apartment building, located on Hutchins Street, is comprised of seven (7) studio apartments, thirteen (13) one-bedroom apartments and four (4) two-bedroom apartments. Amenities include covered bike storage, onsite laundry, community space and outdoor seating. Residents will have access to the community gardens and a range of recreational activities located at the Oxbow and Lamoille Valley Rail Trail, both less than 0.2 miles away.
A total of $7.9 million in funding was raised from numerous sources to cover the total development costs of the project. A significant piece of the funding, over $5.1 million, came from the Low Income Housing Tax Credit allocated by the Vermont Housing Finance Agency, with Housing New England, Fund II as the investor. The Vermont Housing and Conservation Board provided over $1.9 million, including funding from the state Housing for All Revenue Bond and the federal HOME Program. The Vermont Community Development Fund provided $550,000 through the Town of Morrisville. Permanent debt was provided by Union Bank. Other sources of funds were provided by the Northwest Regional Planning Commission and Efficiency Vermont. Village Center Apartments received a commitment of Section 8 Project-Based Rental assistance made possible by the Vermont State Housing Authority and the U.S. Department of Housing and Urban Development. In collaboration with the Town of Morrisville, parking will be provided in the municipal parking lot across the street, made possible by a donation from Community National Bank.
In July of 2022, a devastating fire and significant smoke and water damage set back the completion of Village Center Apartments by nine months.
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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.
Lamoille Housing Partnerships Lamoille Housing Partnership collaborates with communities to create and preserve quality affordable housing opportunities for Hardwick and Lamoille County. Learn more at www.lamoillehousing.org.
