This partnership with BlueLine Development and Snow King Partners will result in 48 Affordable Rental units serving households earning 30-60% of median family income, or less than $66,420 for a family of three. The Town is providing the land for the development via a long-term ground lease + $2,250,000.
This is the first development to receive Low-Income Housing Tax Credits (LIHTC) since 2003. Total allocations awarded:
- LIHTC: $12,940,099
- HOME: $1,455,000
- NHTF: $860,000
Groundbreaking: Spring 2023
# of Units: 48 apartments, mix of one, two, and three-bedroom
Affordability: <60% MFI