SOUTH BURLINGTON, Vt. — The State of Vermont has awarded a $525,000 grant to Cathedral Square Corp. The nonprofit developer, along with Snyder Braverman Development Co. and People’s United Bank, will use the capital to help fund construction of City Center Senior Housing, a 39-unit affordable seniors housing community in South Burlington.
The grant was awarded using federal Community Development Block Grant funds. Cathedral Square currently has a waiting list of 800 for its other communities in the area.
Pending Cathedral Square’s anticipated receipt of tax-credit financing from the Vermont Housing Finance Agency, construction of City Center Senior Housing will begin in July 2017 for completion in June 2018.
Based in Burlington, Cathedral Square owns and/or operates 28 seniors housing communities in Vermont.