Reid Commons Groundbreaking Celebration
Cathedral Square CEO Kim Fitzgerald and Director of Real Estate Development Cindy Reid celebrate the groundbreaking of Reid Commons with funders, and federal, state, and local officials. Photo by Ben DeFlorio.
Groundbreaking Celebration for Reid Commons in St. Albans
Affordable Housing Community Will Add 33 New Apartments for Older Adults
ST. ALBANS, VT -- Cathedral Square is pleased to announce that construction is underway on Reid Commons, bringing 33 new energy-efficient, affordable apartments for adults 55 and older to St. Albans. Located at 17 Lower Newton Street, Reid Commons will offer one- and two-bedroom apartments with a range of rents to serve a mixed-income community.
Federal, state, and local officials gathered this week to celebrate the momentous occasion, over a decade in the works. Reid Commons will sit on a revitalized former brownfield lot. St. Albans City Manager Dominic Cloud shared, “Over ten years and with $6 million in public spending, this site has been transformed from a vacant former factory into a prime housing development opportunity. The City is grateful for support from Senator Welch and others to help transform a liability into a multi-generational asset.”
Amenities will include a lounge, community room with kitchen, telehealth room, gym, elevators, laundry room, covered and surface parking, courtyard, and garden beds. All apartments are designed with ADA accessibility in mind. Reid Commons will offer SASH® (Support and Services at Home), which includes an onsite care coordinator and part-time wellness nurse, at no cost to residents.
“Increased access to affordable housing also means that older adults don’t have to choose between paying for housing, medications, or food,” shared Cathedral Square CEO Kim Fitzgerald. “This improves their quality of life, and for some restores dignity that may have been lost when having to make impossible choices. It also provides older adults with the opportunity to remain in their community, where their support system is and where they are part of the community fabric.”
Additionally, the building is being constructed to Efficiency Vermont’s “High Performance” standard for energy efficiency, and rents include heat, air conditioning, electricity, hot water, and laundry. Reid Commons will be Cathedral Square’s first property to utilize geothermal HVAC, an energy-efficient and eco-friendly system that harnesses the Earth’s heat to generate energy for heating and cooling.
Cathedral Square worked with Duncan Wisniewski Architects to design the building. ReArch Company is the construction manager and J.D. Kantor Inc. is the development consultant.
"Projects like Reid Commons support older Vermonters, ensuring they can age in their communities near loved ones,” said Vermont State Treasurer Mike Pieciak. “By adding affordable units to our senior housing stock, Reid Commons will also help strengthen Vermont's economy by freeing up additional housing for new residents and young families, helping grow our state's workforce and revenues. Our office is proud to have used our 10% in VT local investment program to support this project, which promises to have a lasting impact on the St Albans community for years to come."
Over $18 million in funding was raised from federal, state, local, and private sources to finance the development. Vermont Housing & Conservation Board provided over $7.4M in funding from the HOME program, the National Housing Trust Fund, the Leahy Legacy Fund, and State Housing Trust Funds. A significant piece of the funding came from federal Housing Tax Credits allocated by the Vermont Housing Finance Agency, which also allocated state tax credits and is providing construction and permanent financing.
"VHFA is excited to bring to the table housing tax credits and other innovative funding covering half of the costs of this amazing project in an area the city is prioritizing for growth. These apartments will fill a critical need for affordable, highly efficient homes near services and destinations,” shared VHFA Director of Development Megan Roush.
M&T Bank is providing over $9.8M in equity investment made possible by federal, state and energy tax credits. Vermont State Housing Authority is providing rental assistance for 8 apartments. Other sources of funds were provided by the Agency of Commerce and Community Development, the Department of Housing and Community Development, Efficiency Vermont, Green Mountain Power, and Housing Ministries of New England.
“The lack of affordable housing is an issue throughout New England and M&T Bank is proud to support Cathedral Square in its efforts to provide a creative solution that directly addresses this critical need,” stated Heidi Stumpff, Vermont Regional President for M&T Bank. “Projects like these are wonderful additions to the communities they serve, and we look forward to celebrating the grand opening of Reid Commons which will provide new and safe housing with on-site care coordination for its residents.”
Reid Commons will be Cathedral Square’s 29th affordable housing community. Construction began in May 2024 and is expected to be complete by July 2025. If you’d like to learn more about this community, please contact us to be added to the inquiry list.