Bennington High School: Transformative Redevelopment Project Secures Funding

Evernorth, a nonprofit organization committed to community investments and affordable housing across northern New England, has successfully secured funding for the redevelopment of the historic Bennington High School in Bennington, Vermont. Known as Benn High, the project aims to transform the vacant two-story building into affordable housing and a multidisciplinary community services hub. This ambitious project is sponsored by Vermont Housing Initiative (VHI), supported by Evernorth's investment through its Rural Ventures and Housing New England, Fund VII. In total, over $20 million has been allocated to the project, including $14.2 million from the New Markets Tax Credit program and $6.1 million through the Low-Income Housing Tax Credit. VHI, in its inaugural project, collaborates with local and federal agencies, various investors, and community organizations to breathe new life into the downtown area, providing mixed-income housing and services like childcare, senior programs, and educational facilities. The project, which also benefits from $15 million in NMTC authority from Mascoma Community Development and $5 million from the National Trust Community Investment Corporation, highlights a committed strategy towards filling capital gaps in economically disadvantaged communities while addressing Vermont's housing needs.