News & Ideas

Community, Development, Press Releases | 9/28/23

Evernorth Rural Ventures Awarded $60 Million in New Markets Tax Credits from U.S. Treasury Department

FOR IMMEDIATE RELEASE
September 27, 2023

On Friday, September 22, 2023, the U.S. Department of the Treasury’s Community Development Financial Institutions Fund (CDFI) announced Evernorth Rural Ventures, a subsidiary of Evernorth, was awarded a $60 million allocation of New Markets Tax Credits (NMTC) to continue its successful economic and community development work in low-income areas. This is Evernorth Rural Ventures’ 7th award.

Community, Development, Press Releases | 8/14/23

$11.4 Million in New Markets Tax Credit Allocation Secured for the Redevelopment of the Iconic “Yellow Barn” in Hardwick, VT

FOR IMMEDIATE RELEASE
August 14, 2023

[Hardwick, VT] – Evernorth Rural Ventures and Massachusetts Housing Investment Corporation (MHIC) are pleased to announce the closing of $11.4 million in New Markets Tax Credit (NMTC) allocation for the redevelopment of the iconic “Yellow Barn” in Hardwick, Vermont. The NMTC funding supports the construction of a new 25,137 square foot food business accelerator building and the adaptive reuse of the vacant, historic 4,762 square foot yellow dairy barn for use as a retail shop, collectively called the Yellow Barn Business Accelerator.

Community, Development, Press Releases | 7/21/23

Vermont Supreme Court Rules in Latest Challenge to Proposed Housing Community in Putney

FOR IMMEDIATE RELEASE
July 21, 2023

[Purney, VT] The Vermont Supreme Court has rejected the latest appeal by opponents of a proposed affordable housing community on Alice Holway Drive in Putney. The ruling by the state’s highest court affirms the Environmental Court’s decision earlier this year rejecting an appeal to the project’s zoning permit.

It marks the latest chapter of a 16-month legal process that began in March 2022 when an appeal was filed contesting the permit and delaying progress of the 25-unit mixed income development.

Community, Development, Press Releases | 7/17/23

Evernorth Rural Ventures Closes $7.1 million New Markets Tax Credit Investment to Expand Hundred Nights Emergency Shelter and Resource Center

FOR IMMEDIATE RELEASE
July 14, 2023

[Keene, NH] Evernorth Rural Ventures, a subsidiary of Evernorth, is pleased to announce the closing of a $7.1 million New Markets Tax Credit (NMTC) investment to construct a 15,180 square foot, modern, 48-bed emergency shelter and resource center in Keene, New Hampshire. The new facility, is nearing completion and will allow the nonprofit Hundred Nights, Inc. (HN) to centralize, consolidate, and increase their shelter and resource center to better serve low-income individuals and families experiencing or at risk of homelessness.

Development, Press Releases | 6/28/23

Morrisville Celebrates the Opening of 24 New Affordable Apartments in the Heart of Downtown

FOR IMMEDIATE RELEASE
June 27, 2023

[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.”

Press Releases | 6/26/23

Evernorth Closes Fourth Multi-Investor Fund

FOR IMMEDIATE RELEASE
June 26, 2023

Evernorth closed its fourth multi-investor fund – Housing New England, Fund IV – on June 15, 2023. This fund will provide equity to finance affordable housing in Maine, New Hampshire and Vermont.

14 investors committed a total of $54,050,000 in equity making Housing New England, Fund IV (HNE Fund IV) a significant financial resource for the region’s critical affordable housing needs. HNE Fund IV’s investors include community, regional and national banks as well as one of the nation’s largest mortgage banking organizations.

“We raised capital from a wide-range of investors and new partners enabling us to expand our reach to preserve and create much-needed affordable housing in these unprecedented times,” said Nancy Owens, Co-President, Evernorth.

Development, Press Releases | 6/6/23

Morrisville Celebrates the Opening of 25 New Affordable Apartments Near Downtown

FOR IMMEDIATE RELEASE
June 5, 2023

[Morrisville, Vermont] – On Monday afternoon residents, funders, community members, local legislators and two affordable housing organizations came together to celebrate the completion of Gordon Lane Apartments – 25 affordable homes in two new buildings, including 4 apartments that are reserved for households facing homelessness, within walking distance of downtown Morrisville.

Evernorth and Lamoille Housing Partnership (LHP) have a successful history of building affordable housing together – and the completion of Gordon Lane Apartments once again highlights the power of partnerships in creating transformative properties that positively impact communities.

Articles, Community | 4/28/23

Evernorth Welcomes Executive Vice President & Chief Program Officer

We are happy to announce that Cynthia (Cindee) Lacasse has accepted Evernorth’s newly created position of Executive Vice President and Chief Program Officer. Ms. Lacasse will be joining us beginning May 29th. Cindee is an affordable housing industry leader with deep transactional knowledge and a commitment to Evernorth’s mission. She will be based in Portland and serve a key, externally-facing role with Evernorth’s investors, developers, and funders.

Press Releases | 4/17/23

Evernorth Receives Two Prestigious Energy Efficiency Awards from U.S. Department of Energy, Including New Energy Equity Award

FOR IMMEDIATE RELEASE
April 17, 2023

Evernorth was recently honored with two prestigious energy efficiency awards from the U.S. Department of Energy for exceeding the performance criteria for building envelope performance and for energy equity. Laurentide Apartments received both Building Envelope Campaign Awards – the Novel 40 award and the inaugural Energy Equity award – for the newly constructed building located in Burlington, Vermont. Champlain Housing Trust (CHT) co-developed and is a co-owner of Laurentide Apartments in partnership with Evernorth.

Community, Opinion | 3/28/23

Opinion: Nancy Owens: Vermont needs more housing for everyone. Here’s how to make progress

This commentary was written by Nancy Owens and originally published by VT Digger on March 28, 2023.

Today’s housing market is broken. A lack of housing limits people’s mobility. Seniors who are overhoused cannot move to a more appropriate home; workers who want to secure better jobs cannot find a home in strong employment centers; people who are ready to purchase homes cannot find one they can afford.

While reduced mobility is true for everyone, it really impacts people with less financial resources.

Why is there not enough housing here? Economists and others provide data and analysis about demographic and economic trends that impact housing supply and begin to explain some of the issues.

Community, Opinion | 3/14/23

Opinion: Kathy Beyer: Vermont’s clean-energy transition must address inherent inequities

This commentary was written by Kathy Beyer and originally published by VT Digger on January 11, 2023.

Vermont is making strides toward a clean energy transition. But this clean energy transition does not ensure an equitable energy future.

Press Releases | 12/20/22

RuralEdge and Evernorth Celebrate Renovations and Construction Progress at Burkeland Lane

FOR IMMEDIATE RELEASE
December 16, 2022

[West Burke, VT] Evernorth and RuralEdge were joined by community members, funders and local elected officials on Friday afternoon to celebrate newly renovated buildings and significant progress to a newly constructed building on Burkeland Lane.

Burkeland Lane (formerly known as West Burke Housing and Pilgrim Manor) is a mixed-generation affordable housing property located in the heart of West Burke. West Burke village is a small, but thriving community fueled by tourism. The local rental market, like much of Vermont, has been affected by significant rent increases and the conversion of rental units into short-term rentals. These market realities make Burkeland Lane, which will remain permanently affordable, a critical community resource.