Welch secured federal funding for the project in 2024
SHELBURNE, VT – U.S. Senator Peter Welch (D-Vt.) today joined the Champlain Housing Trust (CHT), local leaders and organizations in celebrating the groundbreaking of the Bay Ridge neighborhood project, which will provide 94 new permanently affordable homes including 68 affordable apartments for rent developed by the CHT. Sen. Welch nominated and secured federal funding for the project through the FY24 Congressional Directed Spending (CDS) process.
“Community-driven initiatives like the Bay Ridge neighborhood project are key to addressing Vermont’s affordable housing crisis. This project will turn a community vision into reality by creating a new neighborhood that will host permanently affordable housing. I’m proud to have helped secure federal funds for this project which will help more Shelburne families access housing,” said Senator Welch.
View photos from the event below:
From the $5 million in federal funds secured by Sen. Welch for the project, $4.15 million will be used to help build apartment buildings and $850,000 will be used to help build Shared Equity Condominiums. Congresswoman Becca Balint (VT-At-Large) also secured federal funds for the project, giving an additional $1 million to the Shared Equity Condos portion of the development.
The new Bay Ridge buildings will host a wide range of apartment sizes, with an emphasis on larger size units. Thirty households will have vouchers through the Burlington Housing Authority that limits their portion of rent to 30% of their income, and 20 apartments will be reserved for people exiting homelessness. An offsite 150-kilowatt (kW) ground mount solar array will offset the apartments’ energy usage.
Sen. Welch was joined by Shelburne Town Manager Matt Lawless, Champlain Housing Trust (CHT) Executive Director Michael Monte, Evernorth President Nancy Owens, Vermont Housing Finance Agency (VHFA) Executive Director Maura Collins, and Vermont Housing & Conservation Board (VHCB) Executive Director Gus Seeling.
This year, Senator Welch secured $42.34 million in federal investments to support 19 projects that will improve local infrastructure and accessibility, bolster economic revitalization, preserve community landmarks, and build more affordable housing in Vermont. Project recipients were nominated by Sen. Welch through the Congressionally Directed Spending (CDS) process.
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