Putnam Block

Bennington,
VT
(2019)

Putnam Block

Adult Education, Affordable Housing, College or Vocational Training, Community, Environment, FQHCs, Healthcare, HFFI, Historic Rehabilitation, Housing, Mixed-use, Restaurants and Catering, Retail, Retail and Commercial, Rural, Vocational Training

The renovation of 3 historic buildings in downtown Bennington, VT.

Investment

NMTC Amount: $25,000,000
Total Project Cost: $29,566,917

IMPACT

95 FTE jobs
44 construction jobs
4,500 patients served
Project includes a Federally Qualified Health Center.

CDEs

Evernorth Rural Ventures, Mascoma Community Development, Mid-City Community CDE

Investor

Chase

Voices from the Community

Today, we celebrate the kickoff of this historic project that will revitalize downtown Bennington. We also celebrate the extraordinary efforts of the community leaders who brought their vision to life in the face of countless obstacles along the way. I am particularly pleased that the federal New Markets Tax Credit played a vital role in this vibrant project and look forward to returning to celebrate its completion.

-Congressman (now Senator) Peter Welch, Vermont

Project Description

NMTC Investor: US Bank Community Development Corporation

Lenders: Mascoma Bank, Vermont Economic Development Authority

The renovation of 3 historic buildings in downtown Bennington, VT. The former Hotel Putnam, Old Courthouse, and Winslow Building were converted into mixed-use commercial space that includes a health clinic, social service healthcare providers, a local bookshop, cafe, restaurant, potter, office space, and retail space tailored to support a local grocer. Additionally, 22 residential apartments were constructed, with six of the units supporting low-income individuals. The completion of these neighborhood enrichments will revitalize a key downtown block that has been largely vacant for many years.

MAP

Address: 359 Main Street, Bennington, VT 5201

Census Tract: 50003971200

Site Visits

(Former) Congressman (Now Senator) Welch Attends Putnam Block Groundbreaking

Conversion of historic buildings into a mixed-use commercial space that includes a health clinic, social service healthcare providers, a local bookshop, café, restaurant, potter, office space, and retail space tailored to support a local grocer.

Learn more...

Aug-2019

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