**M&T Realty Capital Invests $5 Million in Vermont Affordable Housing Redevelopment**
M&T Realty Capital Corporation has announced an approximately $5 million Low-Income Housing Tax Credit (LIHTC) equity investment in the Chelsea Williamstown Apartments, an affordable housing redevelopment initiative located in rural Vermont. The investment utilizes 4% tax credits and is structured as a direct equity commitment in partnership with M&T Bank. In addition, Northfield Savings Bank has provided a construction loan to support the project.
As part of the financing package, M&T Realty Capital Corporation also arranged a $5.6 million Fannie Mae M.TEB forward commitment. The project receives further backing from the Vermont Housing Finance Agency, the U.S. Department of Housing and Urban Development’s Green and Resilient Retrofit Program, and the State of Vermont.
The Chelsea Williamstown Apartments redevelopment involves the rehabilitation and adaptive reuse of two non-contiguous properties located in Orange County, Vermont. The project will deliver a total of 61 rent-restricted units, aimed at supporting affordable housing needs in the region. A key feature of the redevelopment is its green building initiative, which is expected to generate energy savings of up to 50%.
The project is scheduled for completion in March 2026, with stabilized occupancy projected by May 2026.
