We've emerged from the 10 darkest weeks of the year and while we're a few days off from Punxatawney Phil's proclamation, we're poking our heads out to share some of what we've been up to!
Manufactured Housing Communities: While AHW unfortunately wasn't funded in this round of Leahy Institute grants for rural partnerships, the program was featured on VPR along with a tour of one of AHW's manufactured housing communities to illustrate how a partnership might help the park become more resilient to climate change.
Shared Equity Homeownership: while it's been increasingly difficult to find homes beneath or even near our purchase price limit of approximately $300,000, downpayment assistance remains an important tool for increasing homeownership, especially among househoulds with no generational wealth, according to a recent Urban Institute report. According to the report, "Between September 2010 and September 2023, home prices rose 114 percent, while the consumer price index rose about 41 percent and wages rose 50 percent. In 2010, $10,400 would have covered a 5 percent down payment on the median home purchase, whereas now, a borrower would need $22,240 for the same 5 percent down payment." You can learn more about AHW's shared equity downpayment grant program here.
Housing Development: Having completed and fully leased Firehouse Apartments in Bristol, AHW is continuing to look for opportunities to develop new affordable housing for Addison County, in a very resource constrained market with few buildable sites available for development. Meanwhile, another Urban Institute report clearly points the finger at a lack of supply as the primary culprit responsible for our current housing crisis.
Finally, AHW was thrilled to be awarded a $775,000 grant from the Vermont Housing and Conservation Board to support a new shared equity housing development in Middlebury! From the press release:
The Board committed $775,000 to allow Addison Housing Works (AHW) to provide down-payment assistance on six new construction single-family homes that are part of a real estate development project in Middlebury. Summit Development LLC (Summit), a private developer, is in the early phases of building more than 200 housing units in Middlebury, which will include both rental and homeownership. Summit plans to set aside six of the homeownership units for shared-equity buyers, who will receive down-payment assistance through AHW in exchange for limited equity upon resale.
AHW will hold our regular January Board meeting on 1/25/24 at 4pm at the National Bank of Middlebury at 30 Main St in Middlebury, or via Zoom. Please RSVP below to receive a copy of the packet.
"I’m a native Vermonter, I grew up in North Ferrisburgh. I lived in the city of Vergennes for 13 years before I moved to Bristol. I have been a full time professional cosmetologist for almost five years. I work at the Supercuts Williston location. I decided to apply for [Addison Housing Works] because they were recommended to me from people that had experience working with them. My life has changed in the best way possible since finding my home because I feel like I have a safe and comfortable place to come home to every night. I would like the community to know that affordable housing is a great opportunity for anyone looking into their first home."
The regular October Board meeting has been moved to Thursday, November 2, at 4pm at the National Bank of Middlebury main branch or via Zoom (link provided in agenda). The full packet is available upon request by emailing us or calling (802)877-2626 x 100.
The November Board meeting has been moved to Thursday December 7, also at 4pm at the National Bank of Middlebury main branch or via Zoom. This will be the final meeting of 2023.
Regular monthly Board meetings will resume the 4th Thursday of the month at 4pm as of January 25, 2024.
Whenever we can, Addison Housing Works strives to go the extra mile to ensure our residents have safe, decent, affordable housing. In our manufactured housing communities (MHCs), residents own their own homes, so this can mean helping homeowners apply for grants to make repairs and energy efficiency upgrades.
The process was labor intensive and took several months, including a site visit to assess Joyce's home. Finally, through Weatherization, Joyce received all new appliances as well as MHIR funds to upgrade her hot water heater, flooring, and electrical.
Thank you to the hundreds of neighbors, friends, family and residents who came out to support affordable housing at Addison Housing Rocks! We gathered on the Town Green in Middlebury to celebrate our accomplishments, raise awareness about the housing crisis, and launch our new name and logo to better represent our work in the community. The event was a great success--not only did we have a ton of fun, we also raised over $35,000 for affordable housing! Thank you so much for your support--we couldn't do what we do without it, and it always inspires us to do more.
Thanks to generous volunteers from Middlebury Rotary and plans from Jason Larocque of Otter Creek Engineering, families at Lindale Manufactured Housing Community now have a new place to play! A brand new swing set and picnic table are sure to bring smiles to many. Lindale is also undergoing a major upgrade to its septic infrastructure with the installation of a $3.5 million community septic system, ensuring that kids can safely enjoy this playground for years to come.
Bristol Celebrates the Grand Opening of 20 New Affordable Apartments near Downtown
Addison Housing Works staff members share news and information about upcoming events.