Officials and developers gathered in Middlebury to celebrate the groundbreaking of Stonecrop Meadows, a new mixed-income housing project that will bring over 250 new homes to the area. Summit Properties is spearheading the development, which includes homes for sale and rent at various price points. The project is one of the largest new developments in the region and aims to provide much-needed housing in the community.
Middlebury College played a key role in getting the project off the ground by purchasing the land and passing it on to Summit. Changes to Vermont’s land use review law allowed the project to move forward without delays. The town, federal, state, and local funding, along with a $2.5 million contribution from the college, helped finance the infrastructure needed for the project.
Governor Phil Scott used the event to advocate for a new infrastructure financing program for rural communities, highlighting the importance of basic infrastructure for effective developments. Stonecrop Meadows will offer a mix of affordable and market-rate homes, with plans for a 35-unit apartment building to open next year. The project is seen as a model example of how collaboration between employers, town governments, and developers can address housing shortages in Vermont.
According to state analysis, Addison County needs over 1,300 additional homes by the end of the decade to meet demand. Stonecrop Meadows represents a significant step towards reaching this goal and providing quality housing options for the community.
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