Champlain Housing Trust Commences Affordable Housing at Cambrian Rise
Deal News | Aug 07, 2025 | Housing Vermont Inc
The groundbreaking of 40 new permanently affordable apartments at Cambrian Rise in Burlington marks a significant development led by Champlain Housing Trust (CHT) and Evernorth. Supported by the Burlington municipality and key stakeholders, the initiative is a part of a broader effort to address the housing shortage in Vermont, which is linked to rising inflation and homelessness. The newly planned apartments follow two existing affordable housing projects on site—Laurentide Apartments and Cathedral Square’s Juniper House—and precede the forthcoming Shale Beach Condominiums. The development project, totaling $23.8 million, is funded through a combination of federal, state, and local sources, including a notable $1 million anonymous donation. Emphasizing sustainability, the project features geothermal and solar energy solutions while setting aside units for the homeless. Despite a current average 14-month wait for CHT housing, this project aims to provide critical affordable housing access to Burlington residents.
Sectors
- Real Estate Development
- Affordable Housing
- Renewable Energy
Geography
- United States – The project is located in Burlington, Vermont, part of the United States.
- Vermont – The affordable housing project is specifically located in Burlington, a city in Vermont.
Industry
- Real Estate Development – The article discusses a new real estate development project involving affordable housing.
- Affordable Housing – The core focus of the article is on the development of affordable apartments in Burlington.
- Renewable Energy – The project incorporates sustainable energy solutions like geothermal and solar power.
Financials
- $23.8 million – Total funding for the Cambrian Rise affordable housing project.
- $1 million – An anonymous charitable donation to address homelessness challenges.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Champlain Housing Trust | Developer | Company | A not-for-profit organization focused on affordable housing development. |
| Evernorth | Developer | Company | Partners with Champlain Housing Trust to develop affordable housing. |
| City of Burlington | Supporter | Government | Provides local resources and support for affordable housing projects. |
| Vermont Housing Finance Agency | Financial Partner | Government | Administers tax credits and financing critical to the project’s budget. |
| Vermont Housing and Conservation Board | Financial Partner | Government | Contributes State and Federal funds to support the project. |
| Burlington Housing Authority | Supporter | Government | Provides housing vouchers to integrate homeless individuals into new housing. |
| Michael Monte | CEO | Person | CEO of Champlain Housing Trust. |
| Emma Mulvaney-Stanak | Mayor | Person | Mayor of Burlington advocating for the housing project. |