In collaboration with the city of Burlington, local developers are making major progress when it comes to creating more housing available for those looking to make the Queen City their home. In addition to the well-documented CityPlace development, a number of others projects are nearing completion which are poised to add desperately needed market rate and affordable housing options within Burlington city limits.
In an article published on WCAX.com, local developer Eric Farrell was quoted as saying “This is my town, this is where I grew up, this is where I want to live and work, and so this is where I’m building housing.” Construction continues at Farrell’s Cambrian Rise development, with nearly half of the nearly 1,000 units already completed and occupied. Echoing the sentiment of developers and residents alike, Farrell adds, “I don’t think I could build fast enough to catch up to demand”.
Located downtown, the Nest is developer Doug Nedde’s latest venture in redeveloping the area adjacent to the CityPlace construction site. After having brought 49 new units to market in the old People’s United Building on Pine Street, the Nest is set to offer an additional 49 units which as of today, is nearly fully rented with residents awaiting the official launch currently scheduled as December of 2022.
Burlington Mayor Miro Weinberger says he is committed to doubling housing production in the next five years which would equate to over 1,000 new units each year. As part of his 10-point housing plan, Weinberger intends to modify antiquated zoning regulations to clear the way for additional development in areas such as the South End and UVM’s Trinity Campus. For more information, check out the full article on WCAX.com, “Developers push to boost Chittenden County housing market”.
As the top-selling Team in Burlington, we are encouraged by the recent progress made in addressing the aging housing stock in Vermont’s cultural, artistic, and economic center. Since 1985, we’ve helped thousands of clients buy and sell real estate in Northwest Vermont. Our goal is to provide you with the local insight, information and resources necessary to make your purchase and/or sale a comfortable, informed and enjoyable experience.