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Blog :: 11-2013

Spruce Mortgage Makes a Unique Employee Investment

Spruce MortgageYou may have noticed an amazing transformation to the building located at 430 Shelburne Road in South Burlington, the new home of Spruce Mortgage as well as Gadue's Drycleaning.  The story behind this renovation is even more amazing...  In 2012 the Spruce Mortgage staff was interested in developing a comprehensive retirement account for its employees.  To make this happen, Gene Richards, Spruce's CEO, reviewed the budget and determined that a creative solution was possible by addressing the company's largest line item, the rent.  With Gene Richard's guidance and real estate expertise on their side, the employees formed a partnership and invested in the acquisition and renovation of 430 Shelburne Road.  The employees purchased the property in December 2012 and hired  Three Four Builders to do a complete restoration which is nearly complete.  Every aspect of this project has been managed by the Spruce Mortgage Team. Congratulations to Spruce Mortgage for investing in their employees and in Burlington!

Everywhere you look Burlington is growing!

Burlington Town Center MallThe Burlington Town Center Mall has been purchased by an investor with strong Burlington ties.  The Mall will undergo major redevelopment including the addition of new retail stores and restaurants on the Cherry Street side of the mall enhancing the walk from Church Street to the Waterfront.  The closing is currently scheduled for mid-December.  Read the full article "City Excited for New Mall Owners with Local Ties" - Burlington Free Press 11/21/13.

Visons for Burlington's Waterfront

Waterfront VisionIn January 2013 the City of Burlington requested ideas to revamp Burlington's waterfront.  The City received 120 responses and 9 of those are currently under final review - 4 incorporate the Moran site, the other 5 improve lake access.  Which of these concepts would you support as a $5 million investment?  The public will vote on the waterfront proposals in March 2014.  Read the Burlington Free Press article  "Waterfront Visions" for more information. You can also visit CEDO and view any one of the final 9 proposals in full detail and offer your feedback. Let your voice be heard!

Big Plans for Fletcher Allen Hospital

The Fletcher Allen hospital has big plans for the future! From a new $85 million inpatient building to a $15.8 million Maternity Care unit and research lab and more, totaling over $120 million in capital improvements!logo

The biggest project in the works will be the construction of a four-story inpatient building next to the hospital's Emergency Department parking lot. Currently inpatient facilities are located in four separate buildings throughout the Medical center's campus. Fletcher Allen not only plans to consolidate current facilities but to also increase the number of private rooms. The combination of renovating its aging infrastructure along with the goal of privatizing approximately 90%, or 128 of its inpatient rooms, has led to the whopping $85 million in projected capital expenses. Of that bill, about$3.7 million will be used on "detailed planning and design work" and is waiting final approval from the board.

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U.S. News & World Report Names Fletcher Allen a "Best Regional Hospital" for 3rd Consecutive Year

The second project on the hospital's hit-list will be the construction of a new $15.8 million dollar Maternity Care unit. The new facility will not only feature increased square footage and more private rooms but also be located closer to the Birthing Center on the Medical Center's Campus. Breaking new ground of the Maternity building will sometime next year.

For questions please regarding Fletcher Allen's future spending projects visit the hospital's Marketing and Communications Department. As always, remember to stay tuned to our blogs for the latest news and updates happening around Burlington. From future construction projects happening in your neighborhood to the latest initiatives enacted by our City Counsel, Lipkin Investment Properties has what you need to know! Check out the VTDigger article for additional information.