Avesta receives $25K from Mascoma Bank Foundation to help new homeowners
Photo / Courtesy Avesta Housing
From left, Avesta’s corporate and major gifts officer Zoë Alexis Scott, HomeOwnership Center director Nicole DiGeronimo and president and CEO Rebecca Hatfield with Mascoma’s senior vice president and managing director of community development Ryan Bishop and senior vice president and Maine market manager Andrew Cook.
Avesta Housing, the largest nonprofit affordable housing developer in Northern New England, received a $25,000 gift from the Mascoma Bank Foundation for a new program administered by the Avesta HomeOwnership Center that helps moderate-income households achieve homeownership and housing stability.
The program, called A Path Forward: Homeownership for ME, is designed to create a pathway to homeownerhsip for Maine residents who would otherwise be priced out of the marketplace.
Through the program, Avesta acquires, restores and sells homes at below-market prices to qualifying households through an equitable application process that saves on real estate commissions and provides support to homebuyers throughout the process, according to a news release.
Avesta administers the properties in a way that preserves affordability in perpetuity while building modest equity for the homeowners. This approach is aimed at allowing individuals and families to build generational wealth.
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