What is the story about?
What's Happening?
Larkin Realty has received approval to construct a five-story hotel on the site of the old Holiday Inn property in South Burlington, Vermont. The property, located at 61 North Dorset St., currently houses Catamount East, which provides housing for University of Vermont students and staff. This building includes 83 apartments, with eleven designated as permanently affordable, and a commercial space that remains unoccupied. The development plan also includes a third building, likely to feature more apartments with attached commercial space. However, as the property is privately owned, there is no set timeline for the completion of these additional buildings.
Why It's Important?
The development of a new hotel and additional residential units in South Burlington could significantly impact the local economy and housing market. The introduction of more affordable housing units is crucial in addressing housing shortages and providing options for low-income residents. The hotel development may boost local tourism and business travel, contributing to economic growth in the area. Additionally, the commercial spaces could attract new businesses, further enhancing the economic landscape of South Burlington.
What's Next?
While the timeline for the construction of the additional buildings remains uncertain, the approval of the hotel project marks a significant step forward. Stakeholders, including local businesses and residents, may anticipate increased economic activity and potential job opportunities as the development progresses. The impact on local infrastructure and services will be closely monitored as the project unfolds.
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