Champlain Housing Trust unveils 40 new rental homes with deep affordability options

In a recent government meeting, discussions centered on a new housing development that aims to address Vermont's pressing affordable housing crisis. The proposed building will create 40 new rental homes, with a significant portion designated as affordable housing for low-income families.

Of the 40 units, three will be available for households earning at or below 30% of the Area Median Income (AMI), which is classified as deeply affordable housing. Additionally, ten units will cater to families earning at or below 50% AMI, while 23 units will be affordable for those earning between 64% and 80% AMI. This diverse mix of affordability is crucial in providing options for various income levels within the community.

A notable aspect of this development is the inclusion of project-based vouchers, which will support ten of the homes. These vouchers, administered by public housing authorities, provide rental assistance either directly to households or attached to specific homes, ensuring that tenants receive financial support to help cover their rent.

Furthermore, the project will designate ten homes specifically for Vermonters exiting homelessness. This initiative will be complemented by services offered through the Champlain Housing Trust, aimed at supporting these tenants as they transition into stable housing.

The discussions highlighted the importance of such developments in combating homelessness and providing affordable housing options in Vermont. As the state continues to grapple with housing shortages, this project represents a significant step towards creating a more inclusive and supportive community for all residents.