Vermont housing group buys 2nd hotel this month
BURLINGTON, Vt. (AP) — The Champlain Housing Trust has purchased the Days Inn in Shelburne, its second major acquisition this month and the eighth lodging establishment it has purchased since 2013, the organization said Monday.
The trust’s Harbor Place motel will eventually shift operation to the Days Inn site, setting in motion a plan to redevelop the Harbor Place site into nearly 100 affordable homes and rentals that are designed to help ease a housing shortage in the region.
Trust officials are working with the town of Shelburne to redevelop the Harbor Place property into permanent housing.
The trust purchased the Days Inn for $6 million. A $7.3 million grant from the Vermont Housing & Conservation Board from federal coronavirus relief funds, is covering the acquisition, rehabilitation and related development costs.
“It is no secret that there’s a severe shortage of affordable housing in Chittenden County, and being able to build more in a community like Shelburne is a great opportunity,” said Champlain Housing Trust CEO Michael Monte.
The Harbor Place motel operations will likely move to the Days Inn property over the next several months after some light rehabilitation and site work, including the installation of a fence at the request of neighbors.