Throughout Chittenden, Franklin, and Grand Isle counties of Vermont, CHT manages 2,200 apartments, stewards 565 owner-occupied homes in its signature shared-equity program, offers homebuyer education and financial fitness counseling, provides services to five housing cooperatives, and offers affordable energy efficiency and rehab loans. CHT will also repave and stripe the back alleyway where unit parking is located, and apply basic air-sealing for improved energy efficiency of the buildings.įounded in 1984, CHT is the largest community land trust in the country.
While the buildings at Ethan Allen have been well-maintained, CHT will be undertaking some rehabilitation to get the units ready for sale, including maintenance of the slate roofs and wood trim, upgrading finishes including new flooring, paint, appliances, and countertops. The deeply affordable ownership units are similar to others that CHT has developed in the area to maintain affordable housing opportunities and to manage neighborhood gentrification. The 12 remaining units will continue as rentals. The 12 buildings are historic brick duplexes, triplexes, and four plexes in the historic Fort Ethan Allen.ĬHT’s plan is to renovate and then convert 19 units into affordable, for-sale condominiums available to the current tenants and employees of the University of Vermont and to low- and moderate-income buyers. The Ethan Allen Apartments, located in Essex, Vermont, was owned by the University of Vermont which had used the property to house its married and graduate students. Its activities impact 3,000 low- and moderate-income families each year with services ranging from homeownership to foreclosure prevention and rental services to housing development and legal services.Ĭhamplain Housing Trust Creates Quality, Affordable For-Sale Housing in Essex, VermontĬhamplain Housing Trust (CHT) financed the acquisition of 31 apartment units in 12 buildings with a $3.7 million acquisition loan from Community Housing Capital. Its mission is to create and maintain equal housing opportunities for low- and moderate-income people, primarily in Baltimore City, and to encourage and support strong and diverse neighborhoods. Ambrose is the oldest housing provider in Baltimore, Maryland, with a broad base of support from individuals, local corporations and financial institutions, local and national foundations, the City of Baltimore, and the State of Maryland. The renovation and recapitalization will enable the property to continue to provide high quality affordable senior housing in the area. The renovation work will include updating the units, replacing and or upgrading common areas and major systems, and adding accessibility improvements. The property was in need of a moderate renovation estimated to cost $1.2 million and paying off the first mortgage and buying out the Co-General Partner made up the balance of CHC’s $2.1 million loan to St. Ambrose had the first option to purchase the property. The 15-year tax credit compliance period ended in December 2015 and St. Situated in 4-story elevator buildings, the property contains 70 one-bedroom units available to senior residents with incomes ranging from 10% to 60% of area median income.Īigburth Vale was originally developed with LIHTC and HOME monies. Ambrose Housing Aid Center, a Baltimore, Maryland, nonprofit, received a $2.1 million loan from Community Housing Capital to support the recapitalization and preservation of Aigburth Vale, a senior, affordable, multifamily project in Towson, Maryland. Ambrose Housing Aid Center Baltimore, MD Project: Aigburth Vale ApartmentsĬounted as part of the units of another loan Ambrose Housing Aid Center - Aigburth Vale Apartments $2.1MM