Properties Near - Mount Vernon Street Newport City, VT

Now is your chance to secure a fully permitted development project located in the heart of Newport, Vermont. This unique offering includes 10 build-ready lots, complete with water, sewer, power, and fire hydrants already in place allowing you to move forward with construction immediately. State and local permits on file for the development, each lot has been surveyed with pins set, and would fall under the Vermont Home ACT S.100, giving you flexibility to build single-family homes, duplexes, triplexes, quadplexes, or a combination. Whether you’re planning a residential neighborhood or a mixed-use community, this project offers the foundation for success. Positioned in a prime location, these lots are just minutes from North Country Hospital, I-91, restaurants, shopping, bike path, and more. Residents will enjoy both convenience and the charm of a growing community. Adding a touch of character, each street in this development is named after U.S. presidents and generals. Don’t miss this one-of-a-kind opportunity to shape the future of Newport by bringing much-needed housing and investment to the area. With infrastructure and approvals already in place, the path is clear for your next development venture. *Home Act S.100-Expansion of multi-unit housing: The law essentially bans single-family-only zoning statewide. It requires municipalities to: Allow duplexes wherever single-family homes are permitted and permit up to four-plexes on lots served by municipal water and sewer. Listing agent related to seller.

This 41-acre parcel is strategically located between the City of Newport (27.6 acres) and the Town of Derby (13.2 acres), offering exceptional visibility and accessibility near the I-91 access road, Newport Country Club, Pine Hill Road, and Mt. Vernon Street. Currently zoned for commercial use, the property also presents significant potential for residential development, subject to necessary approvals and rezoning. Elevated portions of the land offer outstanding views of Lake Memphremagog, Jay Peak, Owls Head, and downtown Newport, creating a unique setting for a variety of development opportunities. Conceptual plans have demonstrated the potential for either a 7-lot commercial subdivision or a 13-lot residential subdivision. The property is located within the Foreign Trade Zone, which may provide advantages such as reduced import costs for qualifying businesses, and it may also be eligible for New Market Tax Credits. Furthermore, from a residential development perspective, this property might be well suited for Community Housing and Infrastructure Program (CHIP) funding which if approved can be used for infrastructure such as roads, power, water, sewer, stormwater, engineering and more. Opportunities of this scale, location, and development potential are increasingly rare in the Newport-Derby market. A personal inspection is highly recommended. *Please note that one of the property shareholders is a licensed Vermont Real Estate Broker.