Sykes Mountain Avenue receives Low Income Housing Tax Credits
On Monday, April 16, Vermont Housing Finance Agency awarded Federal Tax Credits to Twin Pines Housing’s development on Sykes Mountain Avenue. The property, which is less than one mile from downtown White River Junction, will create 30 units of mixed-income housing.
“This project will help address the continued need for affordable workforce housing in the Upper Valley,” said Andrew Winter, Executive Director for Twin Pines Housing. “Trends are showing that the cost of housing is outpacing the incomes of most people who live in the area. These apartments will be available for a wide range of incomes, including those who earn less than 50% of Area Median Income (AMI) as well as families that make between 80% and 120% of AMI,” Winter said.
Architect gbA has been designing affordable housing for years, and has developed plans for a highly energy efficient and environmentally sustainable community. Final designs and permitting are in process, and construction is expected to begin in July.