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RuralEdge & Evernorth Celebrates the Opening of Olivia Place

RuralEdge & Evernorth Celebrate the Opening of Olivia Place

Lyndonville Celebrates the Opening of 20 New Apartments

Two Newly Constructed Buildings Provide Energy-efficient, Affordable Homes

[Lyndonville, VT] This evening, the Lyndonville community celebrated the official grand opening of Olivia Place with a socially-distanced Pumpkin Walk named in memory of Olivia Beleau. RuralEdge and Evernorth (formerly NNEHIF & Housing Vermont) partnered to develop these 20 thoughtfully designed, energy-efficient apartments in two newly constructed buildings and are co-owners of Olivia Place.

The new construction replaced the former Lyndonville Housing, which was comprised of 14 units in a 45-year old building and a 150-year old village house which were poorly designed and did not meet the needs of its tenants, accessibility standards or current energy goals. The new buildings have 12 one-bedroom, 7 two-bedroom and 1 three-bedroom apartments. Both new buildings exceed state energy code requirements. The heating system is a central biomass wood pellet boiler.

Funding totaling more than $5.8 million from numerous sources was raised to finance the total redevelopment costs. TD Bank invested over $4 million in federal tax credit equity, allocated by the Vermont Housing Finance Agency. The Vermont Housing & Conservation Board provided over $1.4 million, including over $400k from the state Housing for All Revenue Bond of 2017. The Vermont Community Development Program provided $345k through the Town of Lyndonville. Efficiency Vermont incentives were also provided.

Evernorth Co-President, Bill Shanahan noted that the construction of this new, redesigned housing underscored the nonprofits’ commitment to sustainability. “We understand that affordable housing resources are scarce and that the need is great,” Shanahan said. “This financing enabled us to increase the number of perpetually affordable apartments in Lyndonville and provide residents with safe, attractive and energy-efficient homes.”

Olivia Place was named in memory of Olivia Beleau, a decades-long real estate development director at RuralEdge. Olivia was passionate about bringing affordable housing to those who needed it. Evernorth and RuralEdge are glad to celebrate her legacy on her favorite holiday, Halloween.

“When I see Olivia Place I am overwhelmed with happiness,” said Patrick Shattuck, Executive Director of RuralEdge. “It makes me happy to think of the commitment and conviction of all of our partners and funders. It make me happy to know so many of the tenants and their stories and to know that they have safe, attractive and affordable housing in the heart of Lyndonville. It makes me happy to see the bike racks filled with the bikes of our youngest residents and hearing the appreciation for amenities like a playground, community gardens and grilling space. Most of all, it gives me joy to know that this development is named for my dear friend and mentor, Olivia Beleau who passed away in late 2018. This development embodies everything she believed in and worked for her entire life.”

Construction was completed in the summer of 2020 and many residents have already moved into the new units, some of whom lived in the old Lyndonville housing. Scott + Partners were the project architects on the design of the new buildings. Trumbull-Nelson was the general contractor.

For more information on Olivia Place, visit the RuralEdge website at www.ruraledge.org or call (802) 535-3555.

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