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New Burlington Development to House Vermont Innovation Commons

Friday, June 15, 2018   (0 Comments)
Posted by: Jeff Couture
Vermont Works and Cambrian Rise have announced a collaboration which will position the North End of Burlington as an innovation district for the City of Burlington. Cambrian Rise is a newly planned inclusive community with residential and commercial uses situated on the site of the former Roman Catholic Archdiocese between the New North End and Old North End, making it an ideal setting for the Vermont Innovation Commons. Construction and development of the property is currently under way.

The Vermont Innovation Commons, a project by Vermont Works, is designed as a business accelerator - integrating educational, co-working, and co-living spaces. Its mission is to provide capital, connectivity, and mentorship to nurture startup and growth companies dedicated to sustainable business practices by providing facilities, services, and guidance to companies throughout the state.

“The addition of the Commons will make Cambrian Rise a beacon to residents, businesses and investment capital, both in and out of Vermont,” says developer Eric Farrell. “We have a unique opportunity to build a new lakeside community in Burlington from the ground up. The name Cambrian Rise harkens back to a geological period of an explosion of diversity and life, which very much captures the innovative living and working opportunities of this unprecedented community and a catalyst for high-quality residential living, recreation, and business innovation.”

“Finding the right home for the Commons is the most important first step of that project, and we have found that home at Cambrian Rise,” explained Robert Zulkoski, Chairman of Vermont Works. “The location on Lake Champlain just north of downtown will extend the energy and vibrancy of Burlington, from the South End arts district to a new North End innovation district. The Vermont Innovation Commons will be a tremendous resource to business statewide.”

Vermont Works will become a lead investor and will work closely with Cambrian Rise on securing additional investment for the overall project.

Source: Vermont Business Magazine

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