The town of St. Johnsbury has received a loan of $250, 000 to re-develop the New Avenue Apartments in the historic downtown area. The loan will increase the quality of affordable housing stock and bring a historic building back to life.

The loan was made possible through the Vermont Community Foundation, that recently announced $3.6 million in place-based mission investments focused on expanding access to affordable housing and strengthening the state’s agricultural sector—two community assets that are essential for Vermont’s resilience in the face of COVID-19.

The suite of loans and equity investments completed over the last four months channels $2.2 million towards building new affordable housing projects throughout the state, and $1.4 million towards securing the land base and expanding markets for Vermont’s farmers.

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