File Photo / PETER VAN ALLEN
Chris Marshall, left, and Nate Green, are shown outside one of the dorms their company, GreenMars, is redeveloping on the former Nasson College campus.
June 26, 2024
Builder is proposing over 100 new condos, apartments in Portland's Stroudwater area
Rendering / Courtesy, Invivid Architecture
A rendering shows three of the nine residential buildings proposed as Stroudwater Commons in Portland.
More than 100 units of new housing — half of which would meet affordability criteria — may soon be coming to Portland.
A proposal from developer GreenMars Real Estate calls for building a total of 90 condominiums and 18 rental apartments at 1877 Congress St., in the Stroudwater area and a half-mile from Portland International Jetport.
To be dubbed Stroudwater Commons, the complex of nine buildings would offer studio apartments and one-, two- and three-bedroom condos, according to a news release. Over 100 parking spaces would be created, although the site is close to public bus stops. It also offers direct access to the Stroudwater River Walking Trails, Fore River Sanctuary and Capisic Pond Park.
The residences would feature open-concept designs with lots of natural light. The ground floor of each three-story building would include gathering spaces and high-end amenities, such as lounge and game rooms, fitness gyms and a sauna.
Of the 108 units, roughly 22 of them would be reserved for residents earning no more than 80% of the area median income, and another 32 for those making up to the AMI. The rest of the units would be market-rate. In addition, some of the condos would have duplex options where owners could add a separate studio apartment to produce rental income or serve as an in-law suite.
GreenMars said it will file a site plan application with the city of Portland sometime after a meeting Wednesday night with neighborhood members, and anticipates delivering a proposal to the city's planning board in the next few months.
“Home ownership has long been a reliable path to financial stability, wealth creation and the well-being that comes from being a part of a community,” said Chris Marshall, co-founder of GreenMars Real Estate.
“In Portland,a however, we’ve all but lost the starter home, that first rung of the ladder that puts people on the path to these benefits. Stroudwater Commons restores access to that first rung of the ladder for 90 families or individuals."
Co-founder Nate Green commented: “Stroudwater Commons is a thoughtfully designed, well-located community that’s ideal for people who love city life and value beautiful, quality housing with high-end amenities. We look forward to working with the local community to ensure the project integrates well within the existing neighborhood.
GreenMars will work with local businesses to develop Stroudwater Commons, including Invivid Architecture, Acadia Realty Partners, Barton and Longuidice, Drummond Woodson, BH2M and McFadden Environmental.
Green and Marshall live and grew up in southern Maine as childhood friends. Their current projects include Wilbur’s Woods, a sold-out affordable housing community in Brunswick, and Nasson College, which will offer housing in York County by transforming former dormitories.
The neighborhood meeting is scheduled for Wednesday, June 26, at 6 p.m., in the Elks Lodge at 1945 Congress St.
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