WASHINGTON, D.C. – March 18, 2015 – (RealEstateRama) — MyChamplainValley.com recently reported on a new, affordable senior housing complex in Milton that is set to begin construction later this year, spearheaded by Cathedral Square Corporation. To read more about it view the article and video footage below or here at their website:
When discussing who fits the mold for affordable housing in the region, senior citizens are not often at the top of the list.
Lyman Fox began using affordable housing in 2013. He went on disability in 2002, after he had a heart attack. He lives in Meadowlane Apartments with his partner, Jim Winters.
“It took 3 years, at least three years on the waiting list to get in here,” says Fox.
Meadowlane Apartments is the only affordable senior housing complex in Milton. The town has a 0% vacancy rate for the elderly demographic.
“There’s a waiting list on that existing senior housing complex of 65 people,” says Interim Town Manager Paul Bohne.
Milton is taking action to address Vermont’s ageing population. Construction is set to start on a new senior housing complex this November, funded through state and federal money. Cathedral Square Corporation will spearhead the project.
“It’s adjacent to the Milton Family Practice UVM Medical Center and right down the street from the Arrowhead Senior Center,” says Cathedral Square Developer Miranda Lescaze. “It’s walkable to the library, pharmacy, banks, etc.”
The 30 unit complex will cost $7.5 million to construct and will open in the spring of 2016.
“Nursing homes and healthcare costs all add up,” says Winters. “We need a place to call home.”
Cathedral Square deals strictly with affordable housing for seniors and those with disabilities. They currently have 24 communities across Chittenden County.