The recent ribbon cutting on October 27th, 2011 marks completion of the first phase of Forest Park Section 8 Housing transformation to the Hickory Street Neighborhood. New streets and infrastructure complement 33 attractive apartments scattered among seven buildings. The ribbon cutting celebration follows almost 10 years of challenging work. Congratulations to all the dedicated people who helped make this extraordinary vision a reality.
What is Hickory Street all about?
Hickory Street Apartments represents the first phase of the transformation of a 75-unit family public housing property into a vibrant new mixed-income neighborhood. Phase one of the project demolished approximately one third of the Forest Park development. Families were relocated using a special allocation of Section 8 Housing Choice Vouchers. Thirty-three attractive apartments were constructed on an improved site plan and scattered among seven buildings including one twelve-plex, one nine-plex, two tri-plexes and three duplexes. The mixed-income development includes 7 market rate apartments, 14 units with rental assistance and 12 apartments for households with modest incomes (for example, up to $37,750 for a family of four.
Where is it located?
Hickory Street Apartments are located in a new neighborhood off Forest Street in Rutland, Vermont.
Who helped make this unique vibrant neighborhood?
Housing Vermont and the Rutland Housing Authority partnered to create Vermont’s first mixed-financing redevelopment of public housing. Michael Wisniewski of Duncan Wisniewski Architects was the project designer and Naylor & Breen Builders was the General Contractor.
How was this project funded?
Funding totaling nearly $8.5 million from numerous sources was raised to cover the total development costs. TD Bank invested more than $4 million in equity and provided a construction loan. The Department of Housing and Urban Development was the ultimate source of $4,121,500 which includes a $525,000 EDI grant secured by Senator Patrick Leahy, $500,000 in HOME funds through the Vermont Housing and Conservation Board and $750,000 in CDBG funds through a program administered by the Vermont Department of Economic, Housing and Community Development and awarded to the City of Rutland.
For more information, please contact www.rhavt.org
The entire team is appreciative for the leadership provided on-site by Naylor & Breen’s “Superintendent/Project Manager” Kevin Burke. The project was delivered on-time and with very few hiccups along the way. Congratulations to another job extremely well done!
Naylor & Breen is looking forward to the opportunity to be a part of Phase II…keep watch for updates.