Housing Vermont

Housing Vermont is a not-for-profit syndication and development company founded in 1988. It creates rental housing intended to be permanent and affordable for Vermonters through partnerships with local organizations, public agencies and the private sector. It has produced more than 4,000 apartments in 131 different developments.[1] It is headquartered in Burlington, Vermont.

Housing Vermont
TypeNon-Profit
IndustryAffordable housing
Founded1988
HeadquartersVermont, United States
Area served
Vermont
Key people
Andrew Broderick
ProductsAffordable housing
Websitehttp://www.hvt.org/home
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Main
House (detached) • Apartment • Housing projects • Tenement • Condominium • Mixed-use development (live-work) • Hotel • Hostel (travellers' hotel) • Castles • Public housing • Squat • Flophouse • Green home • Shack • Slum • Shanty town
Issues
Affordability • Environmental planning • Fair housing • Healthiness • Homelessness • Housing discrimination • Home ownership • Ownership equity • Rent • Subprime lending • Subsidized housing • Sustainable development • Vagrancy
Society and politics
Housing subsidy • Rent control • Real estate economics • Redlining • Right to housing

It is Vermont’s largest developer of affordable housing.[2]

History

In 2009, it employed 100 people.

Funding

As of 2008, it had raised $163 million for its projects.[3]

In 2003, Housing Vermont formed the Green Mountain Housing Equity Fund with a total investment of $14 million from nine investors. The Fund’s dollars were spread out over nine projects and it provided an internal rate of return of 7.75%. This allowed the agency to finance projects in which it was not the co-developer.[4]

Green Mountain Housing Equity Fund II was created in 2005 with total capital of $22 million. In all, commitments were made to seven developments, which created 232 new homes.[4]

The agency's third offering closed in 2007 with a total investment of $25 million.[4]

Organization

It has 16 managers for its properties, including the Vermont State Housing Authority.[5] There are developments in all of Vermont's 14 counties.

It is managed by an 11-member board of directors.[6] It has a staff of 21. It has a budget of nearly $3 million.[7]

Key people include:

  • President - Andrew Broderick. Salary - $102,700
  • Vice President - Kathleen Cannon. Salary - $88,000.
  • Vice President - Kenn Sassorossi. Salary - $80,100
  • Vice President - Nancy Owens. Salary - $65,603.

References
  1. "Housing Vermont | Non-profit syndication and development company creating affordable housing".
  2. "Archived copy". Archived from the original on 2009-04-21. Retrieved 2009-02-01.CS1 maint: archived copy as title (link)
  3. "Archived copy". Archived from the original on 2009-04-21. Retrieved 2009-02-01.CS1 maint: archived copy as title (link)
  4. "Archived copy". Archived from the original on 2009-04-21. Retrieved 2009-02-01.CS1 maint: archived copy as title (link)
  5. "Archived copy". Archived from the original on 2008-09-21. Retrieved 2009-02-01.CS1 maint: archived copy as title (link)
  6. "Archived copy". Archived from the original on 2009-04-21. Retrieved 2009-02-01.CS1 maint: archived copy as title (link)
  7. "2006 Annual Report" (PDF). Archived from the original (PDF) on 2008-08-28. Retrieved 2009-02-01.
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