P: 802.658.7400   EMAIL: INFO@REDSTONEVT.COM

Riverside Ave. Burlington VT

Redstone Portfolio

80 Units


Overview: 

The project was the development of 80 units of affordable rental housing known as Salmon Run on Riverside Avenue in Burlington. The project was financed using a Housing and Development Action Grant, tax exempt financing and the syndication of Low Income Housing Tax Credits. The project was unique, in that it was structured to be sold to two local non-profit housing groups at the start of construction in order to ensure perpetual affordability. The project sold in November of 1988, construction was completed and the project was fully leased shortly thereafter.