Winooski and state leaders gathered for a groundbreaking ceremony to kick off construction on a 15 Million, 72 unit, luxury apartment complex.
"To the lounge, to the fitness center that overlooks a large terrace with a fire pit, built in barbeque and vegetable gardens," said developer Alain Youkel, describing the project.
The layout overlooking the falls is nothing short of extravagant. Rent will range from 15-hundred dollars a month for a single bedroom to 22-hundred a month for two bedrooms.
"This is a chance for the city to get another level of housing into our community," said Winooski Mayor Michael O'Brien. O'Brien sees the brand new complex as a job magnet. "One of the things we hear from employers is that one of the problems they have in attracting workers is a lack of housing -- this gives housing right here on the job site," he said.
But people living in Winooski say housing is already unaffordable -- and scarce. David Huff, who works in the city, said he's seen an attempt like this before -- on a condominium complex called The Cascades. "I think it's confused. I think what they're trying to appeal to with some of the buildings doesn't exactly align itself with the demographic here in this city," he said.
The River House project will be luxury apartments that abut the luxury Cascades condominiums which opened in 2007 -- and proved difficult to sell.
"I think we're in a different economic time," said Mayor O'Brien. "Back then you remember was when the market crashed -- a lot of housing wasn't doing well."
O'Brien said he's confident the apartments will be at full occupancy by August 2013 when they're slated to open.
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