Did you know that Burlington, VT has received almost 100 accolades since 1988? Most recently, Outside Magazine rated The Queen City #7 of "The 16 Greatest Places to Live in America". Burlington is considered to "have it all" based on "access to adventure, healthy eating options, bike lanes, and green spaces." We think so too! As always, please reach out to the LipVT team with any questions you might have about Burlington area real estate.
The City of Burlington has taken a major step toward reducing its carbon footprint and achieving energy independence: 100% of the city's energy will now come from renewable resources. Wilson Ring of the Boston Globe reports that the tipping point occurred earlier this month as Vermont's largest city quietly finalized their purchase of the Winooski 1 hydroelectric project. Burlington has also finalized an arrangement to join the Washington Electric Cooperative which counts approximately 11,000 members throughout northern and central Vermont. The Co-op collects power from numerous sources including wind, solar, biomass, and geothermal projects. The story was reported on numerous national news outlets and blogs and has generated excitement among clean-energy advocates. Its these front-runners that are showing that its possible," Diane Moss of the Renewables 100 Policy Institute said in Ring's September 15th article. Moss went on to say she wasn't able to think of any community as large as Burlington that has reached the 100% milestone. The good news does come with a caveat: The city and Co-op acknowledge that conditions for renewables are not always optimal so at times they will purchase energy from "traditional sources" during times when the greener options are not available. Read the full article from The Boston Globe Washington Electric Cooperative As always, please reach out to the LipVT team with any of your Real Estate needs.
Burlington's waterfront district, once the economic engine of the Queen City, is the getting a fresh look thanks to the Chittenden County Regional Planning District's new Railyard Enterprise Project. The project seeks to "develop a network of multimodal transportation infrastructure improvements, which incorporate the principles of Complete Streets, to support economic development in the area; improve livability of the surrounding neighborhoods; enhance multimodal travel connectivity between the Pine Street corridor and the Burlington Waterfront South area; and improve intermodal connections to the Burlington Railyard." Vist CCRPD's site for a full description of the Railyard Enterprise Project Visit Lipvt.com for all of your real estate needs!
The 22nd annual South End Art Hop brought unseasonably warm temperatures, clear skies, and huge crowds to Burlington's South End this past weekend. Revelers were met with myriad installations ranging from dance and fashion to sculpture and performance art (and everything in between). Just as two Art Hop attendees might look at a piece and have two different interpretations, a hotly debated topic at the Hop was the future of the South End. Will those aging industrial buildings be converted into high-end housing or remodeled into chic commercial spaces à la Dealer.com and Burton? How will the Champlain Parkway impact the neighborhood? Would the South End lose its character if artists and artisans were priced out of the workshops, galleries, and studios that dot the former manufacturing hub? Seven Days' Kevin Kelley outlines the differing opinions surrounding the future of one of Burlington's most sought-after and culturally vital neighborhoods in his September 3rd article. Click the link below to access the story which features quotes from Lipvt's own Steve Lipkin on just what makes the South End so desirable. "Burlington's Changing South End Looks Way Into Its Future" by Kevin J. Kelley, Seven Days 9/3/14 South End Arts and Business Association Plan BTV- City of Burlington
Vermont's venerable state university is buzzing with activity once again as its summer break comes to an end. The Burlington Free Press reports that the new school term will bring big changes to the campus as the college undertakes several significant building and renovation projects:
- The Wills, Buckham, and Chittenden dorms, sometimes known as "The Shoeboxes", are slated for demolition and replacement. Demolition and removal costs are expected to run between $1 million and $2 million. UVM is seeking a "private developer to finance, build, and manage" a 450-650 bed dormitory for first-year students. The shoeboxes currently house approximately 390 students. The new building would also be home to a cafeteria able to accommodate up to 900 diners. The partnership the university envisions is similar to the arrangement with the privately owned apartment-style Redstone Lofts on the Redstone campus.
- The dining area located in the Given Atrium, which serves the College of Medicine, has received upgrades totaling near $1 million.
- The Taft School, located on South Williams Street and owned by the Burlington School District, will likely house UVM programs at some point in the near future. The old school building was a bequest of Burlington Lawyer Elihu B. Taft whose 1928 will had previously been interpreted to prohibit sale or lease outside the district. A 2008 judicial ruling seemed to open to door broader uses. The school district and the university have entered into a long-term lease but UVM is seeking a declaratory judgement from the Superior Court before moving operations into the building.
- The University has acquired the former Phi Delta Theta fraternity house located at 439 College Street for $713,000. The building, which will be occupied by the Alpha Delta Pi sorority until next summer, was built in 1924 and is assessed by the city at $930,000. The building sits upon approximately one acre of land which is currently assessed at $924,000 for a total value of over $1.8 million.
- UVM plans to significantly revamp the Billings building in order to house the Special Collections, currently located in Bailey/Howe Library. The building is also projected as the new home for Holocaust Studies, the Center for Research on Vermont, and the new Humanities Center. Estimated costs for the project have ranged between $10 million and $18 million but school officials indicate they believe the more modest $10 million plan is more viable in the short-term.
- Finally, Alumni House, located at 61 Summit Street is undergoing renovations to better suit the property as a gathering place for alumni visitors and office space for the UVM Foundation.
Miro Weinberger announced yesterday a residential development plan emphasizing the need for more affordable housing for Burlington's middle class as a key ingredient to building economic vitality in the City. Read the full article "Housing Strategy Unveiled for Burlington" in today's Burlington Free Press. And as always, feel free to contact lipvt.com if you have any questions regarding Burlington real estate.
Check out this great piece from the April 6th edition of the Boston Sunday Globe. Author Rachel Razcka profiles the state of the Boston area market and it isn't hard to draw some parallels to Burlington. Rising demand and low inventory is leading to packed open houses and heated bidding wars in desirable areas....Sound familiar? Read on for some sound advice on being an aggressive buyer without getting too carried away! As always, please reach out to The Lipkin Team with any questions.
It appears that the majority of the Lakeside Avenue residents have welcomed the tenants of the Packard Lofts Project despite their initial concerns.
Notice to all Vermont Landlords: The Vermont Department of Taxes will no longer automatically mail the Landlord's Certificate Form, LC-142. It is now only available for download as a fill-in form at www.bit.ly/landlordcert (case sensitive). Photocopies (including photocopies of the downloaded forms) substitutes or older certificates are NOT permitted.
BVTenants.com is the newest online resource available for Burlington landlords and tenants. The website's mission is to provide an open forum for landlords and renters to review one another so that they can make informed decisions about renting in the competitive Burlington market. Read the full article in the Sunday 12/8 issue of the Burlington Free Press
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