“On the day they were supposed to receive eviction notices, the 44 residents of Wharf Lane were handed much better news: A deal has been struck between two nonprofit housing groups and the building’s owner that will keep their apartments as subsidized, affordable housing.

“We announced to the residents that we had a deal, in principle, on both Wharf Lane and Bobbin Mill and expected to sign purchase and sale contracts early next week,” Paul Dettman, executive director of Burlington Housing Authority told Seven Days.

BHA is working with the Vermont Housing Finance Agency to purchase Wharf Lane and the nearby Bobbin Mill apartments, which is home to more than 100 people — many of them low-income families. [More ...]