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Winooski Falls
Winooski Falls, VT 05404

Acquired

9/28/2007

Location

The project is located in Winooski Falls, Vermont and is located adjacent to the falls of the Winooski River in the heart of downtown. The site is only half a mile from I-89 and within one mile of three academic institutions: University of Vermont, Champlain College and St. Michael's College.

Description

The award-winning mixed use development contains residential, retail and commercial uses. It is Vermont's largest smart-growth redevelopment initiative to date, and this public-private development effort is supported by the City of Winooski, State of Vermont, and other federal and regional stakeholders. The Fund purchased as value add assets Keen's Crossing, a four-building, 213-unit mixed income apartment complex (85% occupied at acquisition), and the retail component of Spinner Place , a mixed-use building with 16,000 SF of retail space. There are also 70 waterfront condominium units in development. The Winooski Falls master plan will also preserve over a 100 acres of adjoining riverfront property for open space and recreation.

Investment Rationale

Unique location with need for housing and retail services
Very close to Burlington with heavy education and medical populations
Vermont's largest smart-growth redevelopment initiative

Fund Ownership

Urban Strategy America Fund

Map

For more information regarding properties for sale, please email us at sales@newbostonfund.com or call 1.866.DIAL.NBF