Work on an ambitious housing project in Brattleboro could begin this summer after Vermont State Treasurer Mike Pieciak announced a $4 million low-interest loan for the project.
On Thursday, Pieciak visited the former Austine School for the Deaf and Hard of Hearing, where the Winston Prouty Center for Child and Development wants to develop up to 300 housing units.
Winston Prouty purchased the 184-acre campus in 2016 after the school declared bankruptcy.
In addition to running its child care program there, and renting space to businesses and nonprofits, Winston Prouty has been trying to get developers on board to build housing on the property.
The $4 million in state funds, which come from the state treasurer’s 10% in VT program, will help fund the first phase of the housing development plan.
Winston Prouty Executive Director Chloe Learey said the organization hopes to begin construction this summer on 28 units of workforce housing.
“That loan from the treasurer’s office is the breakthrough,” Learey said. “That is the catalyst that is going to make it possible.”
Learey said the group still needs to raise about $2 million, for what will eventually be a $9.5 million housing development. The organization ultimately wants to build up to 300 units, but that could take years or even decades.
The site is connected to the town’s water and wastewater system, and includes trails and access to open forestland.
“If we’re going to be serious about solving Brattleboro’s housing crisis, growing near where it makes sense to grow is our best option,” Learey said. “We really need something big and transformational to make a dent and really move forward.”
The 10% for VT program uses a portion of the state’s average daily cash balance to provide low interest loans for housing projects. Pieciak’s office says the fund has helped support over 1,600 new homes.
“These historic investments are moving the needle on Vermont’s housing shortage,” said Pieciak, who grew up in Brattleboro. “Brattleboro is full of local businesses, non-profits, and service providers who care deeply about the community, but they can’t grow and succeed unless working people can afford to live here.”
