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Tentative Agreement reached on Burlington College Development Deal

The proposal to develop the former Burlington Diocese land along North Avenue took a step forward last Thursday. Vermont Public Radio's Taylor Dobbs filed a December 3rd report detailing the tentative proposal. Under the plan, a well-used foot path would be preserved providing continued access to the bike path from North Avenue. This path is included in an approximately 12 acre parcel that spans lakefront portion of the property recently sold to Developer Eric Farrell.

The city of Burlington and Champlain Housing Trust will pay $2 million for the land.

According to Dobbs, "The agreement also allows Farrell's company, BC Community Housing, to build up to 770 residential units on the property. Of those units, the agreement guarantees the Champlain Housing Trust 160 low-income housing units on the former Burlington College property. A concept rendering of the final development released with the agreement outlines 570 housing units, including 17 town houses for sale and dozens of condos."

Read the full story here and reach out to the Steve Lipkin Team at www.lipvt.com with any real estate questions.

 

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