RACLT and Partners Break Ground on the Proctorsville Green Housing Project 

On July 17^th at 10:00 am, Rockingham Area Community Land Trust (RACLT), Town of Cavendish and partners will officially break ground on the Proctorsville Green Housing project. After successfully closing in June, 2007 for $3.7 million, construction has begun. Located in Proctorsville, Vermont, the Proctorsville Green Housing project will incorporate rental, homeownership and village commercial development into a single project. 
 

The existing Pollard Block with eight family rental units and two commercial units will be rehabilitated. The existing Freeman House will get a minor upgrade. Two new units of rental housing and four new condominium units will be built on land donated by the Town of Cavendish. RACLT has partnered with Housing Vermont, a statewide non-profit housing developer, on the project. 
 

Sixteen permanently affordable rental apartments and four new homeownership townhouses will be created. The project grew from the Town of Cavendish’s concern that rental units in the community were being converted to seasonal use, primarily to serve skiers. Proctorsville is located less than five miles from the Okemo Mountain Resort.  RACLT negotiated the purchase of the Pollard Block on the Proctorsville Green, and purchased the property in May of 2006 with financing provided by the Housing Assistance Council of Washington DC and RNA Community Builders of Rutland, Vermont. The Town of Cavendish made available one-half acre of vacant land immediately adjacent to the existing Freeman House, which provides six units of housing for elders, and which was moved to the green by RACLT in 1998.  Northern Architects of Burlington Vermont and Dufresne Associates of Windsor, Vermont designed and engineered the project. Project financing has been provided by USDA Rural Development, the Vermont Housing and Conservation Board, the Vermont Community Development Program, the Preservation Trust of Vermont, NeighborWorks® America and with equity leveraged from the use of federal housing and historic preservation tax credits. The Quinn Company, based in  Rutland, Vermont, is the project general Contractor. 
 

Two commercial units in the Pollard Block will be preserved and enhanced. The Pollard Block houses the US Post Office for Proctorsville, and the “Six Loose Ladies” retail store, operated by Fiber Arts of Vermont. 
 

Four two-bedroom townhouses will be for sale. The first floor will offer a spacious living room, dining room and conveniently designed kitchen, with two bedrooms upstairs. In addition, a patio and exterior storage are included. The homes will meet federal Energy Star Rating guidelines. 
 

RACLT’s NeighborWorks^® HomeOwnership Center of Southeastern Vermont is now marketing to potential buyers for the condominiums. The condominiums, to be completed in early 2008, will be kept “perpetually affordable” under the Trust’s Homeland program sponsored by Vermont Housing and Conservation Board. Their estimated net purchase price will be $136,000 to $157,000, according to Bruce Whitney, the Center’s Director. He invites any one interested in these condominiums, as well as in standard homeownership to call him about the Center’s HomeBuyer Workshops. RACLT’s HomeOwnership Center and counseling staff are nationally certified by NeighborWorks^® America.

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About Rockingham Area Community Land Trust
RACLT’s mission is to maximize affordable housing opportunities for the people of southeastern Vermont. RACLT owns 350 apartments and several mobile home lots which are affordable to low and moderate income families. This year, RACLT is developing affordable housing in Windsor, Cavendish, Springfield and Rockingham. RACLT’s NeighborWorks^® HomeOwnership Center of Southeastern Vermont assists over 60 Windsor and Windham county families to become first time homebuyers each year.

For information contact:
Jeff Staudinger
Executive Director
RACLT
Office-802-885-3220 ext. 220