The West Rutland community recently celebrated the groundbreaking of Marble Village Apartments, a transformative project co-developed by The Housing Trust of Rutland County and Evernorth. This initiative aims to provide 24 energy-efficient, permanently affordable homes for low- and moderate-income households.
The redevelopment project involves remediating three vacant properties into a three-story building featuring outdoor community spaces, gardens, green areas, and off-street parking. Ideally located in the Village Center, Marble Village Apartments is within walking distance of essential services such as a supermarket, pharmacy, restaurants, post office, library, and West Rutland School. Its proximity to downtown Rutland, just a 10-minute drive away, and seven-day-a-week Marble Valley Regional Transit services make it an ideal location for residents.
“We appreciate the support of our partners and funders in making these much-needed affordable homes a reality,” said Mary Cohen, Executive Director of the Housing Trust of Rutland County. “Marble Village Apartments is a critical step in addressing housing needs and providing safe, stable homes.”
President and Co-Founder of Evernorth, Nancy Owens, highlighted the long-term benefits: “We are so glad to be breaking ground today on homes that will remain a community asset in West Rutland forever. Like investments in roads, sewers, schools, and municipal buildings, this housing will serve the community as a valuable resource.”
A combination of public and private sources funds the $13 million development. Evernorth’s Housing New England Fund VI contributed $7.8 million in tax credit equity, administered by the Vermont Housing Finance Agency (VHFA). Additional funding included a $750,000 LIAC Loan from VHFA, over $2.3 million from the Vermont Housing and Conservation Board, and grants from the Vermont Agency of Commerce & Community Development, including $475,000 from the CRRP Grant and $600,000 from the Brownfield Revitalization Fund. Other contributors include Green Mountain Power, Efficiency Vermont, and NBT Bank, which provided the construction loan. The Rutland Housing Authority will provide project-based rental assistance.
Designed by VT Integrated Architecture and managed by Naylor & Breen, construction is expected to be completed by October 2025.
For more information, visit: housingrutland.org.
