ST. JOHNSBURY, Vt. (AP) - Construction is underway on a $15 million project to rehabilitate an 1898 building in downtown St. Johnsbury into 40 apartments and 8,100 square feet of retail space, officials said.
Housing Vermont and RuralEdge announced recently they had closed on the construction loan after almost two years of design work, permitting and financing applications, the Caledonian Record reported. Construction began June 15.
The work, which will create an estimated 100 jobs during construction, is due to be completed by August 2021.
“We were able to undertake this challenging redevelopment because of the deep support from the community,” said Housing Vermont President Nancy Owens.
Housing Vermont acquired the building in July 2018 after the Vermont Legislature made a $1 million grant to the Vermont Housing & Conservation Board. The project was put together with a variety of grants and loans.
“The redevelopment of New Avenue – a fantastic and prominent, historic anchor building - represents the latest significant step in the revitalization of downtown St. Johnsbury,” said RuralEdge Executive Director Patrick Shattuck.
Please read our comment policy before commenting.