Darling Inn, Lyndonville, VT
$600,000 Interim Multifamily
CHC’s $600,000 loan to Gilman Housing Trust dba Rural Edge, was used to finance predevelopment costs for the redevelopment of Darling Inn, preserving a 28 unit senior apartment building located in downtown Lyndonville, VT. The majority of the work to be done at the Darling Inn consits of addressing deferred maintenance and upgrades to dated systems.
The Darling Inn is an historic inn on ½ acre that was originally constructed in 1927 after fire burned the original structure. Historically, the site has been a hotel, dating back to the late 1800s. In 1980, it was added to the National Historic Register and converted to senior housing. The facility serves as the center for key supportive services provided by Support and Services at Home (SASH), a Rural Edge program. SASH provides participating seniors with services including living transition, planning chronic care management and care coordination, complete functional assessment, cognitive screening, nutritional and falls assessment, daily check-ins, medication management, family communication and transportation assistance. There is also a Rural Community Transportation stop at the property. This is an extremely popular property with 96% of the renter households in the property paying no more than 30% of their adjusted income for rent.