In December of 2015, Bove's, the iconic Italian restaurant of Burlington,Vermont, closed its doors to hungry locals to move North to Milton, Vermont and focus on their spaghetti sauce business. The closing sparked discussion on what would come to the 1940s building. While some suggested it be moved to Shelburne Museum, others argued it needed to stay put being on the Vermont State Register of Historic Places. The owner, however has a much different idea for the iconic piece of little Italy in mind. He is proposing a $14 million apartment complex for 64 Pearl Street which would turn the 1940s restaurant as well as two 19^th century apartment buildings to rubble. In their places would be 50 new apartment units to Pearl Street. This plan is still in the beginning stages and it’s unclear what barriers Bove will have to break through to go forward but the news have historians and the Burlington Apartment Market buzzing.

For the full article click here. https://www.sevendaysvt.com/OffMessage/archives/2016/09/12/former-boves-cafe-could-meet-the-wrecking-ball

For more info about the Burlington, Vermont apartment or housing market, visit www.LipVT.com.

 

Photo: Design for the new marina to be built.

For years the competition to land a boat slip on the Burlington waterfront has been cut throat. Developers Jack Wallace and Chuck DesLauriers decided to do something about it by planning a private 160 slip marina for late 2017 or early 2018. The two developers and the Burlington City Council have just come to an agreement on lease terms. They’ll have to pay the city $27,500 plus 5% of revenues over $565,000 the first year, and $55,000 plus 5% of revenues over $1,130,000 in subsequent years in order to operate the private marina on public land. Included in the marina would be a lengthy floating breakwater that would serve as a public walkway allowing pedestrians to walk a decent distance on to the lake. Many Burlington officials have been “on the fence” about this project for some time. However, everyone is now in agreement that the development will change Burlington for the better.

To read the full article: http://www.sevendaysvt.com/OffMessage/archives/2016/06/28/burlington-harbor-marina-gets-council-development-approval?utm_source=Seven+Days+Email+Newsletters&utm_campaign=2979e19a28-Daily_7_Tuesday_0628166_24_2016&utm_medium=email&utm_term=0_24eb556688-2979e19a28-296218281

For any of your real estate questions or concerns contact Steve Lipkin and the LipVT Team at Steve@LipVT.com or 802-846-9575.

Picture: The president of Vermont Rail Systems, David Wulfson, speaks on behalf of the company’s new facility to a group of people at the Shelburne Community School.

The Town of Shelburne has filed a lawsuit against Vermont Railways earlier this year in dispute of a transfer and storage facility in which preparation is already under way. The facility is being prepared in close proximity to the LaPlatte River and Shelburne Village, causing the town to have become wary of nearby wetlands as well as traffic flow. Environmental advocates have harshly objected to the railroad’s developing facility as it obliterates a now standing crucial buffer zone to the river. The company has already cleared 18 acres in preparation for the structure, but it can’t proceed with actual construction until the next round of hearings in late April.

To read the full article: http://www.burlingtonfreepress.com/story/news/local/2016/03/11/shelburne-salt-shed-case-advances-court/81488204/

Please contact Steve Lipkin and the LipVT team for any and all of your real estate needs!

An interesting business opportunity has slid on to the plate of Burlington multifamily property owners.

Photo: Building performance specialist Jeremy King inspects a Burlington multifamily property for heat fluctuation using an infrared camera.

There's been a long time tug-of-war between Burlington landlords and tenants. Why would a Burlington landlord fret over a tenant's high heating bill? On the contrary, why would a tenant give thought to maximizing a landlord's long-term investment in their property?

The simple answer: neither does. And that's exactly why numerous Burlington multifamily properties have been neglected as far as improvements go in the past years. 

Energy Champ, a program developed by Vermont Gas Systems and Burlington Electric Department, is a possible solution to the predicament. The program is split into two stages. Stage one for a landlord is having energy auditors conduct a walkthrough of the entire building. The auditors use tools such as infrared cameras to determine how well the structure retains heat, and calculate the investment a landlord would need to make to achieve total heat efficiency. Stage two of the program for the landlord is making the improvements suggested by the auditors.

Oh, and I forgot to mention, Vermont Gas Systems and the Burlington Electric Department will cover up to 75% of the total improvement cost the landlords incurr. 

This has created an awesome opportunity for Queen City landlords. Not only can they do their part in making our planet energy efficient, but they can keep tenants in their properties longer as tenants tend to stay in an apartment longer the lower the heating bill is. They also have a darn good chance at increasing the resale value of their property more so than what they invested in Energy Champ. 

To read the full article: https://www.burlingtonfreepress.com/story/life/green-mountain/2016/02/21/landlords-burlington-leap-energy-upgrades/80397658/

Burlington City Councilors unanimously voted to send necessary zoning changes to the Ordinance Committee which would allow City Market/Onion River Co-Op to open up a 2nd store on the corner of Flynn Avenue and Briggs Street in the South End of Burlington near Oakledge Park. The main reason for opening another store in the same city is to alleviate the pressure in the busy downtown store which opened in 2002 and has limited parking. The co-op's general manager says they hope to break ground in June 2016 and open the new store in June 2017. The new store will be 1/3 larger than the downtown store and they expect $12 million in sales during their first year. 

Check out the full story on burlingtonfreepress.com: http://bfpne.ws/1OItvwh

Check out City Market here: www.citymarket.coop

We at Lipkin Investment Properties are very excited for the new City Market store to open as it will be located just a few blocks from our Hickok & Boardman Realty office and will give us another lunch and quick grocery stop option!

Looking to move to the Burlington area or sell your Burlington home, condo, or multi-family property? LipVT is the #1 real estate team for sales in Burlington for 3 years in a row now! Visit us at www.LipVT.com, call 846-9575, or email Steve@LipVT.com with any questions about Burlington Vermont Real Estate.