Housing Development Projects

Downstreet partnered with the City of Montpelier and Housing Vermont to complete Taylor Street Apartments and Montpelier Transit Center. The project constructed 30 new apartments of housing co-located with the City’s new transit center. The property offers six studios, eighteen 1-bedroom apartments, and six 2-bedroom apartments. 19-apartments are dedicated to low-to-middle-income earning individuals and families, and 11-apartments are "market-rate" with no income-restrictions.

Sitting atop the new multi-modal transit center, Taylor Street Apartments is a leader in transportation efficient housing. The City of Montpelier led the planning, permitting and environmental clean-up to prepare this property adjacent to the Winooski River for development. The state’s Housing Revenue Bond combined with housing tax credits and other public resources made it possible for Downstreet Housing & Community Development and Housing Vermont to purchase the development rights to the apartments, after other market-rate developers were unable to proceed. 

Downstreet Housing and Community Development and Housing Vermont partnered to rejuvenate the French Block Apartments. This project involved the redevelopment of the two floors above Aubuchon Hardware into 18 affordable apartments. Constructed in 1875, the historic French Block is the longest commercial block in downtown Montpelier. For nearly 80 years, the apartments on the second and third floors remained vacant. The project created new floor plans, essentially building new, highly efficient apartments while retaining existing historic features. The French Block Apartments offers two studio and 16 one-bedroom apartments. Rent, which includes heat and hot water, ranges from $715 to $875.

Downstreet was hired as the developer for The Clara Martin Center's project to convert a historic building that had remained vacant for 15 years into a multi-purpose building that included affordable housing, program, and office space. 

The project involved the redevelopment of a 4,400 square foot historic building to create four updated, energy-efficient one-bedroom affordable apartments, an office, and program space. The renovated apartments are targeted for individuals who are homeless and have a mental illness and will provide permanent housing with the services and case management supports of the Clara Martin Center. The meeting space will be utilized by the Clara Martin Center staff and clients as needed and for larger group offerings or community meetings.

Winooski River Apartments consists of three historic buildings (11 Bailey Avenue, 15 Baldwin Street, and 37 Barre Street) located in Montpelier. The project included 15 affordable apartments and commercial retail space. The scope of work included structural reinforcement, weatherization, energy efficiency, and ADA additions.

As a result of the work completed, the 3 properties have been rehabilitated such that they will be affordable to Vermonters in perpetuity, any potential hazards (lead and asbestos) have been mitigated, the useful life of the buildings has been extended by at least 20 years, and the energy efficiency of all three buildings has been significantly improved. 

The Colonial Village project consisted of rehabilitating of 21 apartments across 4 buildings in Bradford Village, Vermont. The buildings were a combination of senior and family housing and were existing affordable housing before Downstreet purchased the apartments in 2015 in order to preserve the affordability and rehabilitate this housing. The project was extensive, including relocating all of the tenants at Colonial Village to comparable accommodations in order to make the buildings accessible for renovations. In full, the project was a success in preserving the project-based subsidy element of the properties; rehabilitating the properties such that they will be affordable in perpetuity; extended the useful life of the buildings for at least 20 years, and increased operational and energy efficiency across the board.

The historic brick building originally built by Dr. Horace Fales in the mid-1800 was purchased by the state hospital in 1895 to house convalescent patients and staff. Since that time it functioned as a component of the State Hospital Complex and later the State Office Complex. In 1951, the rear addition was constructed as a dorm for staff nurses. The historic building and addition were renamed Ladd Hall in honor of Dr. Henry Ladd.

On August 28, 2011 Tropical Storm Irene brought torrential downpours of rain and historic flooding to Vermont. The storm stranded thousands behind washed out roads, destroyed dozens of homes, and changed the landscape of Vermont. Waterbury sustained heavy flooding and severe damage, which qualified the town to receive federal funds for recovery and rebuilding. It is, in part, these funds which made the South Main Apartments project possible.

Downstreet and Housing Vermont partnered to renovate the historic portion of Ladd Hall in order to preserve the historic character of the building. The 1951 addition was demolished and a new three-story addition, together with the historic Ladd Hall portion, now provides 27 new rental units. The South Main Apartments project was awarded LEED certification for its energy efficiency, building envelope and healthy home design.