Sep 01, 2026
Dear Editor, In May 2025, VTDigger reported the groundbreaking of another Cornerstone Housing Partners “affordable” apartment community, Maplewood Commons Apartments in Rutland. This project cost $14.6 million for 30 apartments, $487,000 per unit. Their last rodeo in West Rutland cost $542,0 00 for 24 studio, one-bedroom and two-bedroom units. These are not affordable prices for new apartments, but median single-family prices. They got funding for this project from multiple sources, including the state of Vermont and the U.S. Department of Housing and Urban Development. Our tax dollars.  I work in the multifamily industry for a provider of large apartment tax credit HUD-financed communities in Virginia, Maryland and North Carolina. While there is certainly an economy of scale for these large communities, they are providing housing at half the cost in urban communities where land and labor costs are higher. Given the size of the communities they are building, they are required by HUD and the municipalities to provide community centers, fitness centers, pools, pet and playground areas, and sometimes even basketball and pickleball courts. Their size also requires on-site leasing and maintenance centers. The construction costs half that of Cornerstone. I’m proud of the work I do for this developer because it truly is an equalizer in housing. And yes, they still make really good money doing it, but each project is a two- to three-year process. READ MORE I’m all for finding ways to build affordable housing here in Vermont. But I do not feel these Cornerstone projects are based in reality, and while, in the end, they may be affordable for the tenants, their construction is not affordable for the taxpaying public. I haven’t been able to find the apartment rental rates that show what Cornerstone Housing Partners deems affordable. I hope we can truly find an affordable housing solution. This isn’t it. Brent L. BuehlerBrandon, Vt. Read the story on VTDigger here: Affordable housing shouldn’t cost this much to build. ...read more read less
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