Winooski, VT — On Thursday morning, the Champlain Housing Trust and the Winooski officials announced the completion of new affordable condominiums. The new development features 20 permanent affordable homes for families.
For one single mother, this has been life-changing. Jodi Lawaich moved to Butternut Grove Condos in August because she couldn’t afford her previous rent. “It’s a godsend. When my rent went up I was just in the Old North End. My rent went up 17%.”
The sales prices for Butternut Grove Condos were reduced with help from the Vermont Housing and Conservation Board, the Federal New Markets Tax Credit Program, and the Vermont Housing Finance Agency.
‘We know that in the first six months of this year the median home price in Winooski was just under 400,000 dollars and the price point that these condos are selling for is less than half that,” said Maura Collins, Executive Director of the Vermont Housing Finance Agency.
To market the homes, the Champlain Housing Trust worked with the City in efforts to expand homeownership opportunities to historically marginalized communities.
“That is important because in our state we have a big gap in homeownership between white and black households, and so this building is going to help address that homeownership gap that we see,” said Collins.
Public officials showed their support Thursday including Lieutenant Governor Molly Gray. “The income needed to afford a home here in the state specifically in Chittenden County is about 121 thousand, it’s a lot, and making sure we have more developments like this that are going to help with accessibility and affordability are incredibly critical to addressing our housing crisis.”
As for Lawaich, she hopes this work continues. “Thank goodness they did a development like this, I think there needs to be a lot more.”