Six Unit Apartment Building Going Up

by Carla Occaso

MONTPELIER — Imagine living a stone’s throw from Hunger Mountain Coop, Beau, practically on the bike path and soon, just down the street, Caledonia Spirits.

Mighty fine living.

That is what is in store for those who nab one of the six units in the process of being constructed at 42 Maple Lane — near Barre Street. The builders broke ground this July.

Plans consist of a three story building with two apartments on each floor. The third floor will have a ‘common area’ for residents to get together and socialize, said owner/developer Steve Ribolini by telephone to The Bridge.  “We expect to have it done around Jan. 1, 2018,” he said, adding, “enough so it will be occupiable on most of the units.” It is expected to be completely done by spring.

The buildings will be equipped with heat pump units that will heat and cool the space. In addition, when doing the electrical wiring, conduits will be added so that in the future, solar panels can be installed.

The apartments will have two bedrooms with two full baths, each with its own private porch. Each unit will be allotted two parking spaces.

Ribolini would not assign a dollar figure for the rents he expects to get per unit, but he said they would be “market rate.” In looking up the rents for existing available two bedroom apartments in Montpelier, the following figures were compiled from rental listings on internet sites including Trulia, Craigslist, apartments.com and homes.trovit.com:

$1,900 for a two bedroom 1.5 bath at 201 Taylor Rd.

$1,750 for a 2 bedroom 1 bath on School St.

$1,600 for a 2 bedroom 1 bath on 9 Cedar St.

$1,400 for a 2 bedroom 1.5 bath 172 Main St.

$1,400 2 bedroom 1  bathroom 15 Barre St.

$750 2 bedroom efficiency 31 Barre St.

It should be noted that most of the above listings are in older buildings (except 9 Cedar St.), and none have two full baths nor private porches (except 9 Cedar St., which has a deck).