Vermont Rural Ventures’ Project Selected as Semi-Finalist for National Award
Burlington, VT – May 1, 2015 – (RealEstateRama) — Vermont Rural Ventures’ innovative financing of the redevelopment of Brattleboro’s Brooks House has been chosen as a semi-finalist by the National Development Council (NDC) for its Academy 2015 Awards. The awards recognize the top economic and community development projects in the nation and are part of the NDC Academy 2015 biennial conference.
Vermont Rural Ventures, the community development subsidiary of Housing Vermont, partnered with the Massachusetts Housing Investment Corporation, to provide $23.4 million in New Markets Tax Credit authority to redevelop and restore the historic circa 1871 Brooks House, a mixed-use commercial building located in the heart of Brattleboro’s downtown.
“The Brooks House block occupies a prominent place in downtown Brattleboro,” said Hildene President and NDC Board Member Seth Bongartz. “Redeveloping that property was crucial for the area, and I am incredibly proud to see Vermont being recognized for innovation and community strength on the national stage.”
Completed in the fall 2014, the Brooks House includes classrooms for the Vermont Technical College and the Community College of Vermont, retail shops, three restaurants and 23 mixed-income apartments.
The Historic Brooks House Redevelopment Project was selected by NDC as a semi-finalist in the Community Development category. One project in each category will be awarded the top honor at the NDC Academy 2015 Awards on May 14. To learn more about the Brooks House Project, visit: http://vermontruralventures.com/vrv-projects/brooks-house-brattleboro/.
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