A sizable crowd joined Governor Peter Shumlin, Lt. Governor Phil Scott, Barre Mayor Thom Lauzon, state officials and others at the May 27 grand opening for Barre City Place. The four-story, 80,700 square foot commercial building was financed through a $10 million New Markets Tax Credit investment by Housing Vermont. The Massachusetts Housing Investment Corporation (MHIC), which has partnered in several other NMTC deals, also participated in this investment which stretches our NMTC allocation. DEW Construction developed and owns the building.
The Vermont departments of Education and Human Services lease almost three floors. Other tenants include the Rehab Gym and the Central Vermont Medical Center.
The Governor noted that Barre City Place was a significant step forward in the City’s economic development strategy. Barre’s businesses are already benefiting from the 165 State workers who now eat and shop downtown. HV President, Nancy Owens and MHIC President, Joe Flatley congratulated DEW and the City on the grand opening for Barre City Place, while reminding all that the NMTC program was becoming a central part of downtown redevelopments throughout Vermont.