Housing Vermont

A clear and sunny late autumn sky reflected the upbeat mood of about 70 armed forces veterans, homeless advocates, public and private funders, city and state officials and neighbors who celebrated the start of construction on Canal Street Housing in Winooski with a ground breaking ceremony on November 2. 

 

Housing Vermont and the Committee on Temporary Shelter (COTS) are partnering to create 16 units of transitional housing and 12 units of independent housing which will principally serve formerly homeless veterans. This project fills a longstanding gap in providing essential services to those who have served our country.

 

The $5.6 million dollar project will utilize $1.2 million in Veterans Administration capital funding as well as nearly $3 million in equity from Housing Vermont’s Green Mountain Housing Equity Fund. Investors in the Fund include TD Bank, National Life, Merchants Bank, Citizens Bank and the Chittenden Bank. The Vermont Housing and Conservation Board, Vermont Community Development Program, City of Winooski, HOME Program, TD Bank and the Residential Energy Efficiency Program are also providing capital loans or grants. The VA will provide funds annually to enable COTS to maintain a comprehensive program of social services for the veterans in transitional housing.

 

Bob Duncan, Duncan • Wisniewski, is the architect and Stewart Construction is the general contractor.

 

Nancy Owens, Housing Vermont President, noted that from January 2009 through October, Housing Vermont construction projects have pumped more than $24 Million dollars into the Vermont economy. According to the U.S. Bureau of Labor Statistics, this has created about 250 on-site jobs and another 750 off-site and ripple effect jobs. 

 

Construction of Canal Street Housing will be completed in the fall 2010.