RUTLAND — Local officials, nonprofit leaders, and community members gathered in Rutland on Wednesday, May 21, to celebrate the groundbreaking of Maplewood Commons Apartments. This new 30-unit housing development will provide permanently affordable homes for families.
The project is a joint effort by Cornerstone Housing Partners and Evernorth, two nonprofit organizations dedicated to creating and maintaining affordable housing throughout Vermont and northern New England. Maplewood Commons Apartments will transform a long-vacant industrial site on Forest Street into a vibrant, energy-efficient, three-story residential building.
“This is a critical step toward addressing housing needs and providing safe, stable homes,” said Mary Cohen, CEO of Cornerstone Housing Partners. “We appreciate the support of our partners and funders in making these much-needed affordable homes a reality.”
Six of the 30 apartments will be reserved for individuals and families experiencing or at risk of homelessness. The Homeless Prevention Center (HPC), a local Continuum of Care provider, will provide services to these residents in coordination with Cornerstone’s resident services team. The building will also include three fully accessible apartments, with one located on the ground floor and two on the second.
Maplewood Commons received 10 project-based rental assistance vouchers from the Rutland Housing Authority, which will help keep rents affordable for residents.
Situated within walking distance of downtown Rutland on Forest Street and along The Bus’ west route, the development offers easy access to transportation, services, and community amenities.
“The development of Maplewood Commons Apartments represents how strong collaboration between nonprofit developers, municipalities, and state and federal partners can create lasting positive change in our communities,” said Nancy Owens, president of Evernorth. “We are so glad to be breaking ground today on homes that will remain a community asset in Rutland forever.”
The project is backed by $14.6 million in public and private funding. A federal tax credit equity investment of $6.6 million came through Evernorth’s Housing New England, Fund VI, and VII, administered by the Vermont Housing Finance Agency (VHFA). VHFA also provided a $1.2 million permanent loan. Additional support came from the Vermont Housing and Conservation Board, which contributed over $4.5 million in federal ARPA funds, $1 million in national housing trust funds, and more than $900,000 in state general funds. Green Mountain Power and Efficiency Vermont also contributed to the development.
Maplewood Commons will provide long-term stability using a community land trust model that ensures permanent affordability.
For more info, visit: cornerstonehousingpartners.org and evernorthUS.org.
Local officials, nonprofit leaders, and community members broke ground on the Maplewood Commons Apartments in Rutland on May 21. The project aims to be completed by May 2026.
