SUBJECT: Governor Douglas Highlights Economic Value of New Neighborhoods -- Visits First Development to Seek Benefits of New Housing Incentives
ESSEX JUNCTION, Vt. — At the site of a proposed housing project that could be the first new neighborhood created under the recently passed housing bill, Governor Jim Douglas praised a local developer and local officials for efforts to create housing for working Vermonters.
Douglas said the proposed 24-unit housing development proposed by Dousevicz, Inc. off West Street in Essex Junction — dubbed Village Square — would make an ideal candidate to apply for Vermont Neighborhood status, thereby qualifying for expedited permitting.
"Building homes working families can afford, while creating construction jobs, is a key part of my Economic Growth Initiative," Governor Douglas said. "This projects seems to be a great example of allowing more housing to be built less expensively in locations where development makes the most sense and a strong local permitting process is in place.”
Under the provisions of the housing bill passed by the Legislature and signed into law last week, towns can designate new neighborhoods that are within or next to already developed downtowns, villages, or designated growth centers in towns that already have planning, zoning, and subdivision regulations, as well as infrastructure like sewer and roads.
Developer Brad Dousevicz said that with 24 units on just less than 5 acres, including 6 units in duplexes, Village Square will help concentrate development and provide housing working families can afford.
"We are within easy walking distance of the Hiawatha Elementary, Summit Street and Fleming Schools, and the Five Corners village center," Dousevicz said. "These houses will make it easy for families to leave their cars at home and walk. That’s smart growth."
Essex Village Manager Dave Crawford said the development, which has already received conceptual approval, would not require the municipality to pay for new infrastructure.
"It can be served by existing roads; utilities are already here; and the homes can be hooked up to Village water and sewer," he said.
"If this is designated as a new neighborhood, it reduces cost and the risk associated with the permit process and we can pass the savings on to homebuyers or renters," Dousevicz said.
The application process is being developed, and Dousevicz said he hoped he could begin construction early this fall if the development is approved as a Vermont Neighborhood.
“I hope this development can be an important step in addressing Vermont’s housing shortage and growing our economy,” Douglas said. “By making housing, taxes, and health care affordable for Vermont's families and businesses, we can ensure a prosperous future for all our people."
ABOUT THE GOVERNOR’S ECONOMIC GROWTH INITIATIVE
On April 19, Governor Jim Douglas presented a 15-point economic package to encourage growth, create jobs and help Vermont emerge from the current national economic challenge with a stronger and more resilient economy. After steady insistence from the Governor, legislative leaders warmed to Douglas’ plan and passed, with a few modifications, a significant majority of his proposals.
Among other items, the Governor’s Economic Growth Initiative includes homeownership and mortgage assistance programs, investments in transportation jobs, job creation tax credits, very low interest capital for small businesses and startups, investments in downtown development and the Governor’s New Neighborhoods affordable home construction initiative. In total, the Governor’s package has the potential to generate more than $200 million in direct economic activity and millions of dollars more in indirect economic multipliers.
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