Burlington Senior Property Receives $50,000 for Best Practices in Green, Senior Housing

COLUMBIA, MD – September 14, 2010 – (RealEstateRama) — South Burlington-based Cathedral Square Corporation today received a MetLife Foundation Award for Excellence in Affordable Housing. Presented by Enterprise Community Partners, Inc. (Enterprise) and MetLife Foundation, the award goes to community-based organizations who have shown exemplary leadership, innovation, effectiveness and quality operations and services in the area of affordable senior housing. The award also recognizes organizations for successfully incorporating green components in their housing. Each of the four winners receives a grant of $50,000 and will be recognized at the American Association of Homes and Services for the Aging’s annual conference in Los Angeles this fall.

“As the older population grows so does the need for housing that is affordable and healthy and that provides the services older adults need to remain in their communities,” said Dennis White, president and CEO of MetLife Foundation. “We are pleased to mark the 15th year of our partnership with Enterprise on the awards program by recognizing Cathedral Square Corporation, which is effectively addressing this need and contributing to the health and well-being of older residents and the Burlington community.”

Cathedral Square Corporation provides an array of supportive services for seniors and individuals with special needs in 24 facilities throughout Vermont. As part of its portfolio, the Cathedral Square Senior Living property includes innovative green building technologies to support its work with the elderly. The 108 apartments are located in a ten-story building in the heart of Burlington’s downtown mixed-use district. Close to public transportation and other services, Cathedral Square pays special attention to creating a comfortable environment for seniors to age in place. A new initiative, Seniors Aging Safely at Home (SASH), which has been utilized in other Cathedral Square Corporation properties, is scheduled to be implemented next year and will dramatically strengthen the Housing and Supportive Services Program currently provided to the residents of Cathedral Square Senior Living.

“We have been entrusted with the care of some of Burlington’s elderly,” said Nancy Eldridge, executive director, Cathedral Square Corporation. “And we constantly seek out ways to provide them with healthy homes and a caring community. We thank Enterprise and MetLife Foundation for providing this grant and look forward to ways to implement the funding at Cathedral Square Senior Living.”

Created in 1996, the MetLife Foundation Award for Excellence in Affordable Housing honors nonprofit organizations and tribes or tribally designated housing entities that show exemplary best practices in the field of low-income senior housing. This year’s winners were selected from more than 130 applicants.

“Best practices in independent senior housing include having easy access to transit and health and life services,” said Melinda Pollack, director, vulnerable populations, Enterprise. “By recognizing strong housing opportunities from community development organizations like Cathedral Square Corporation, we are helping to highlight some of the very best practices in the industry for serving seniors.”

The other 2010 winners of the MetLife Foundation Award for Excellence in Affordable Housing are Northwest Housing Alternatives in Portland, Ore. for the Village at Headwaters; Plymouth Housing Group in Seattle for Langdon and Anne Simons Senior Apartments; and Satellite Housing in Oakland, Calif. for St. Patrick’s Terrace.

###

Enterprise is a leading provider of the development capital and expertise it takes to create decent, affordable homes and rebuild communities. For more than 25 years, Enterprise has introduced neighborhood solutions through public-private partnerships with financial institutions, governments, community organizations and others that share our vision. Enterprise has raised and invested more than $10.6 billion in equity, grants and loans to help build or preserve more 270,000 affordable rental and forsale homes to create vital communities. Visit www.enterprisecommunity.org and www.enterprisecommunity.com to learn more about Enterprise’s efforts to build communities and opportunity.

MetLife Foundation was established in 1976 by MetLife to carry on its longstanding tradition of contributions and community involvement. Grants support education, health, civic and cultural programs. MetLife and MetLife Foundation have supported Enterprise’s neighborhood revitalization activities with grants and loans of almost $60 million. For more information about the Foundation, visit www.metlife.org.