Housing Vermont

Brookside Village Celebrates Grand Opening

A bright and sunny day matched the upbeat mood of municipal officials, residents, funders and others who marked the opening of Brookside Village, the site of 42 new one-, two- and three-bedroom apartments located in Colchester off Malletts Bay Avenue and on the border with the City of Winooski.


Resident Yolande Franklin and her family cut the ribbon

The $9.6 million development features townhouse-style units scattered among 13 buildings. The housing is concentrated on 8 acres while the remainder of the 26-acre site, which fronts on the Winooski River, is protected by a conservation easement.
 
Funding sources include a loan from Northfield Savings Bank secured by USDA-Rural Development, equity from Vermont affordable housing tax credits, the Vermont Housing and Conservation Board, a grant through the Town of Colchester from the Vermont Community Development Program, NeighborWorks® America, the Federal Home Loan Bank’s Affordable Housing Program, the City of Winooski for infrastructure, and federal Exchange funds through the Vermont Housing Finance Agency.