Heritage Family Credit Union announces an Option Agreement for final parcel of old CSJ campus
(Rutland, VT) – Heritage Family Credit Union, headquartered in Rutland, VT is pleased to announce that they have reached a deal with the Housing Trust of Rutland County to enter into an Option Agreement for the West Campus, located at 71 Clement Road in Rutland, VT. The parcel is approximately 30 acres and currently contains 5 buildings, including Clementwood Mansion, which is on the Historic Preservation list.
Heritage Family Credit Union worked with local firm Enman, Kesselring Engineering to subdivide the property to create mutli-use options on the former campus’ 129+ acres of land. The City of Rutland purchased what was utilized as the CSJ Gymnasium in 2020, now the home of the Rutland Recreation Community Center. Casella Waste Systems Inc. will move some of their operations and employee training/housing to the Main Campus as part of a recent purchase agreement, reached earlier this year.
This Option Agreement, officially signed on Tuesday, December 13, 2022, will allow the Housing Trust a 90-day option to conduct much of the necessary due diligence related to purchasing the final parcel of property on the former campus. Mary Cohen, Executive Director Housing Trust of Rutland County, says “The Housing Trust of Rutland County is pleased to have an option agreement with Heritage Family Credit Union to explore the possibility of putting housing on the West Campus of the College of Saint Joseph’s. The property has great potential for not only housing but other community assets as well. We are thankful to Rutland City for the funding of a master plan to help inform us of what are suitable uses and to hear the voices of community members around what is best. We look forward to working diligently on feasibility and will have preliminary plans by the summer.”
CEO, Matthew Levandowski announced the agreement to a packed house at the monthly mixer for the Chamber and Economic Development. He said “I’m delighted that we were able to reach a deal with the Housing Trust to purchase the remainder of the campus. The redevelopment plans for these 30 acres will bring much needed market-rate and affordable housing options to Rutland City. It’s a win for the greater Rutland area, its employers and Heritage Family members.”
Heritage Family Credit Union was established in 1956 as the Ludlow-Rutland General Electric Employees’ Credit Union. Today, Heritage Family Credit Union has 10 branches with 50,000 members serving central and southern Vermont, parts of NH, NY and Mass. For additional information about HFCU please contact 888-252-8932 or visit the website hfcuvt.com.
About the Housing Trust of Rutland County
For over 30 years, Housing Trust of Rutland County has been moving people into quality housing solutions throughout our community. From young families starting out, to single parents finding their footing, to seniors ready to downsize, to individuals with special needs who are striving for independence, the organization is built on the belief that everyone deserves a safe, affordable, attractive place to call home. The Housing Trust creates high quality, attractive and safe rental housing in population centers within Rutland County, often seeking sites and buildings that will not likely be redeveloped by others, and will have a strong positive impact in a neighborhood. Many properties are restored or redeveloped historic buildings. Having built or renovated over 50 buildings and 3 mobile home parks, the Housing Trust is now providing affordable housing to nearly 500 people annually in nearly units throughout Rutland County.
For more information about Housing Trust of Rutland County, contact Mary Cohen at MCohen@housingrutland.org