State leaders and business owners are highlighting projects they say will create hundreds of new housing units in Vermont

State leaders and business owners are highlighting projects they say will create hundreds of new housing units in Vermont. A field in St. Albans will soon be home to more than 120 units of affordable housing. The project was made possible by the 10% in Vermont local investment initiative. It allows the state to invest state cash on hand into low-interest loans for housing projects. Last fall, state leaders announced a $50 million investment aimed at creating housing units statewide. They say it’s beginning to pay off. “It became evident to me that our shortage of housing is holding back the full potential of the Vermont economy. By investing in housing, we are investing in our communities, we’re having people investing in their families and, overall, we’re investing in the future of Vermont,” said Mike Pieciak, Vt. Treasurer. Leaders at Northwestern Medical Center and Beta Technologies also stressed the need for housing in the area. The 10% in Vermont initiative is also lining up projects in Addison and Orleans counties.