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Champlain Housing Trust showcases Bay Ridge redevelopment, warns of funding 'cliff' for affordable projects
Summary
Champlain Housing Trust told the House of Corrections & Institutions Committee that its Bay Ridge redevelopment in Shelburne created 68 apartments, 28 shared‑equity homes and permanently affordable units, but warned that one‑time federal dollars such as ARPA risk creating a funding cliff for future projects.
Michael Monte, chief executive officer of Champlain Housing Trust, told the House of Corrections and Institutions Committee on Feb. 13 that a decade of work turning older motels into permanently affordable housing culminated this fall with Bay Ridge, a new neighborhood in Shelburne that includes 68 apartments and 28 shared‑equity homes.
Monte said the project preserved two renovateable motel buildings and added new rental and homeownership units, and that the development includes a range of rents targeted at multiple income bands. "This is workforce housing," he said, noting that about 75–80% of residents are employed and that 30 households will use vouchers while roughly…
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