Reid Commons Ribbon Cutting Celebration
Cathedral Square's CEO Kim Fitzgerald and Director of Real Estate Development Cindy Reid celebrate the Ribbon Cutting of Reid Commons with community members, funders, and federal, state, and local officials.
Cathedral Square Celebrates 33 New Affordable Apartments in St. Albans
ST. ALBANS, VT -- This week Cathedral Square celebrated the official grand opening of Reid Commons, bringing 33 new energy-efficient, affordable apartments for adults 55 and older to St. Albans. Federal, state, and local officials gathered with community members to celebrate the momentous occasion, over a decade in the works.
Located at 17 Lower Newton Street, Reid Commons offers one- and two-bedroom apartments with a range of rents to serve a mixed-income community. Amenities 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 offers SASH® (Support and Services at Home), which includes an onsite care coordinator, part-time wellness nurse, and social emotional wellness clinician at no cost to residents. Residents who were formerly unhoused will also have access to Cathedral Square’s Housing Incentive Program. Rents include heat, air conditioning, electricity, hot water, and laundry.
Cathedral Square received more than 150 applications for the 33 apartments, demonstrating the critical need for age-specific affordable housing in this area. Notably, 6 of the applicants moving in were previously unhoused, and 11 households sold their homes to move in, freeing up much needed housing stock for other families.
“Reid Commons is a long-term investment in the future of Vermont and the older adults who have helped shape it,” shared Cathedral Square CEO Kim Fitzgerald. “With permanent affordability built into its foundation, this isn't a temporary solution—it's a promise that these homes will remain stable and affordable not just for the residents moving in today, but for generations to come. This is how we meet our housing needs well into the future, while honoring the people who have made Vermont the vibrant place we all know and love.”
New resident Roxanne Comings shared her experience moving into Reid Commons. “What this means for me personally is profound. I was previously living in a friend’s home as a roommate for three years trying to secure permanent housing. Reid Commons has given me the peace of mind of knowing I can age in place without stretching my budget beyond my means.”
Additionally, the building was constructed to Efficiency Vermont’s “High Performance” standard for energy efficiency and is a fossil fuel free building utilizing a geothermal heating/cooling system. Reid Commons is 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.
“Reid Commons met and exceeded the requirements of Efficiency Vermont’s High Performance new construction program, which will result in lower energy bills, increased tenant comfort, and improved building durability," said Steve O'Malley, Lead Engineering Consultant with Efficiency Vermont. "In addition to being a tight, well-insulated, and all-electric building, the facility uses a geothermal heat pump system for heating and cooling, and to meet the building's domestic hot water needs. This allows Reid Commons to be fossil fuel-free and have a carbon footprint that will save at least 40 metric tons of carbon emissions (CO2e) annually.”
Cathedral Square worked with Duncan Wisniewski Architects to design the building. ReArch Company was the construction manager and J.D. Kantor Inc. was the development consultant.
“Reid Commons is the exact type of housing Vermont needs to build to a stronger future," said Vermont State Treasurer Mike Pieciak. "When older Vermonters can downsize, it frees up homes for young families—helping grow our workforce, fill our schools, and strengthen our economy. Our office is proud to invest in projects like Reid Commons that make senior housing more affordable, create local jobs, and ensure older Vermonters can age with dignity in their communities."
“Over the years, VHCB has invested approximately $32 million in the St. Albans community, and with Reid Commons' 33 apartments, we've now helped create nearly 500 affordable homes here,” shared VHCB’s Executive Director Gus Seelig. “What makes this investment so valuable is its permanence—these homes are protected assets that will serve St. Albans residents for generations to come. Seniors living at Reid Commons won't face eviction because their building converts to an Airbnb or because rents double when the market heats up. These homes are here to stay, for the people and the community who need them most.”
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.
“Access to safe and affordable housing greatly improves the well-being of Vermont’s aging population and their communities,” shared Chris Flannery, Chief Financial Officer at Vermont Housing Finance Agency. “It’s exciting to see the impact of the financial resources VHFA brought to this project and seek ways to expand this impact in the future.”
M&T Bank provided 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.
“M&T Bank is deeply committed to our community partners and proud to support Cathedral Square in this critical project that will provide new affordable, energy-efficient apartments for aging Vermonters. This project offers more than housing-it provides stability and healthcare resources to improve lives and strengthen the community, aligning with our core values at M&T,” said Heidi Stumpff, M&T Bank’s Regional President in Vermont. “We are proud to provide the crucial equity investment, which will have a meaningful impact on peoples’ lives and in the communities we serve, especially as New England continues to navigate the housing crisis.”
Reid Commons is Cathedral Square’s 28th affordable housing community. The community is named in honor of Cathedral Square’s Director of Real Estate Development Cindy Reid.