ACCT Receives Funding Award to Rehab Senior Housing

On Wednesday, the Vermont Housing and Conservation Board awarded ACCT & Housing Vermont a total of $865,000 to renovate Pleasant Hills Senior Housing in Bristol.  Previously, the project had been awarded Low-Income Housing Tax Credits, and funding from the Affordable Housing Program (AHP) of the Federal Home Loan Bank of Boston.  With funding in place, ACCT and Housing Vermont anticipate that construction will start in mid-2018, and hopefully be completed by the end of the year.  

Pleasant Hills was built in 1980 by a private developer, who sold the property to Housing Vermont in 2013.  The property has been well-maintained, but sorely needs updates to bring it up to today's energy and accessibility codes.  ACCT and Housing Vermont are partnering on the ~$3M redevelopment.  Upgrading the building envelope, reconfiguring the ADA units, and rebuilding the front porch on Mountain Street so that seniors have zero-step entries into their apartments are a few of the highly anticipated renovations that will be taking place.

Pleasant Hills houses 18 seniors and people with disabilities.  The property has a contract with the Department of Housing and Urban Development (HUD) providing rental subsidies to the tenants, so that no one has to pay more than 30% of their income to live there.  Pleasant Hills is also an important community resource, hosting a "Support and Services at Home" (SASH) program which serves 50 area seniors in addition to those living at the property.  The community room is home to myriad community events, from bingo nights to community meals.  We are looking forward to preserving this important community asset for years to come.  

ACCT has been building and renovating affordable multifamily housing since 2005.  Some of our previous rehab projects include the restoration of historic properties on North Pleasant St in Middlebury (Peter Coe Village Apartments), and upgrades to the apartments at Pine Meadows.  Most recently, we redeveloped the blighted Gevry Mobile Home Park in Waltham into a net-zero multifamily property of high performance Vermod duplexes, McKnight Lane.  

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