NEWPORT — RuralEdge has acquired properties for Newport Crossing, a major housing development that will bring 40 affordable and mixed-income rental units to Newport City and Newport Center.
The $21.8 million project includes converting Newport City’s historic Sacred Heart Convent into 26 mixed-income rental units, with plans to transform the high school into 24 condominiums starting in 2025.
“Investing in new housing will help lower costs, address workforce shortages, and strengthen Vermont’s economy,” said State Treasurer Mike Pieciak.
In Newport Center, the project will replace two buildings on Route 105 with 14 modern housing units and community space, designed to complement the village’s historic character.
“This acquisition is a significant step toward achieving our mission of fostering stronger communities through quality housing,” said Patrick Shattuck, RuralEdge Executive Director.
The development, one of RuralEdge’s largest projects, is funded through partnerships with the Vermont Housing Finance Agency, Vermont Housing & Conservation Board, and Vermont Community Development Program.
