Cathedral Square awarded $100,000 affordable housing grant

WASHINGTON D.C. – December 11, 2015 – (RealEstateRama) — Cathedral Square recently won the Annual TD Charitable Foundation Housing for Everyone Affordable Housing Grant Competition and was awarded $100,000 to help fund the construction of Elm Place. The theme for this year’s “Housing for Everyone” was Affordable Housing for Seniors. This theme focused on the development of safe, affordable and accessible housing for adults 55 and over.

Elm Place will be an affordable senior housing community located in Milton, Vermont. “Of the 30-units in this property, 28 will be tax credit units for seniors earning less than 60% of area median income (AMI) and two will be market rate”,” writes Miranda Lescaze, Cathedral Square’s media contact. Equity from housing tax credits awarded to the project by VHFA will provide the bulk of the project’s development funding.

“There is a significant need for service-enriched, safe, affordable senior housing in Milton,” said Kim Fitzgerald, CEO, Cathedral Square. Elm Place will be completed in early 2017. Learn more about this project.

by: Marina Demas