Projects: Current and Future

Accomplishments in 2008 and 2009...

• Gile Hill, Hanover, NH
  Completed and fully rented 61 apartments in spring 2009; 46 are rent-restricted and perpetually affordable to low- and moderate-income households. 

  Completed and sold 16 condominiums in fall 2009.  Four are covenanted in perpetuity to be affordable to households of low and moderate income. 

• Starlake Village, Norwich, VT
  In the summer of 2009, TPHT removed hundreds of red pine trees remaining from the original plantation in which the development was built.  For years, these trees had threatened residents and their homes.  A microburst in spring 2007 toppled several of them, highlighting the potential danger.

• Riverbend Mobile Home Park, South Royalton, VT
  In 2004, major leaks in the deteriorating water supply system caused land damage throughout the park and unforeseen expense to Twin Pines.  Thanks to a United States Department of Agriculture-Rural Development grant/loan of more than $100,000, TPHT effected necessary water system and internal road repairs in summer 2008. 

• School Street Housing, Hartford, VT
  On December 31, 2009, TPHT assumed ownership and management of this eight-unit affordable rental property.  In partnership with Housing Vermont, TPHT plans within two to three years to apply for funding to rehabilitate this well-run location.
  

Projects Currently Under Development...

• Gile Hill
  Phase 2:  Twenty additional condominiums being constructed for occupancy in spring 2010; six will be three-story, three-bedroom town homes with parking beneath.
  Phase 3: The final 23 condominiums.  We project full completion by late spring 2011.
  For more information on Gile Hill, visit their website, www.gilehill.com.

• Grange Hill, Woodstock, VT
  Permits were awarded by both the Town Development Review Board and the District 3 Act 250 Commission for this 36-unit mixed income, mixed rental and homeownership development in West Woodstock.  Financing has been substantially acquired.  An appeal of the permit approvals should be heard by the Vermont Environmental Court sometime this summer, with potential groundbreaking by autumn 2010.

• Graystone Village, White River Junction, VT
  In partnership with Housing Vermont, a statewide not-for-profit affordable housing developer, TPHT is investigating acquisition and improvement of this 36-unit elder housing complex off Sykes Avenue in uptown White River Junction.

• Rivermere, Lebanon, NH
  Rivermere is a planned 22-unit community housing development off Slayton Hill Road, within one and one-half miles of downtown Lebanon.  We have been offered a very low interest rate loan from USDA-RD together with the promise of rent subsidies for all units.  TPHT currently is preparing proposals to acquire pre-development funds necessary to move through the permitting process.