In Rockland, Peasley Park will add 49 affordable senior housing apartments

PHOTO / COURTESY Developers Collaborative The new Peasley Park apartment building near downtown Rockland.

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Developers Collaborative is putting the finishing touches on its latest affordable senior housing project, Peasley Park in Rockland.

Situated on 2.5 acres at 118 Maverick St. near downtown Rockland, the 50,000-square-foot building includes 49 apartments, targeted for residents aged 55 and over.

At least 60% of the units will be rented to households earning no more than 50% of the area median income and the remaining apartments are designated for households earning 60% of the AMI or less. MaineHousing will provide vouchers for 11 units for residents with special needs.

The income restrictions mean rents for Peasley Park apartments will run from $963 for a studio to $1,031 for a one-bedroom unit. There are four efficiency units that range in size from 521 to 573 square feet and 45 one-bedroom units ranging from 662 to 1,013 square feet.

The three-story building is within a half-mile from a Hannaford supermarket, Sherman’s bookstore and a Rockland DASH bus stop. Indoor amenities include a community room, laundry room, fitness room, storage and broadband infrastructure. Plans call for 62 parking spaces.

Laura Reading, director of affordable housing for Portland-based Developers Collaborative told Mainebiz that pre-leasing has already attracted more than 100 applicants.

Falmouth-based Penobscot General Contractors is building the $17.2 million project with a focus on energy efficiencies. SolarLogix is installing roof-mounted panels for electricity generation.

Peasley Park is one of more than 20 affordable housing projects Developers Collaborative has brought online in Maine, with three more currently under construction, including Rumford Senior Living at 101 Hancock St. in Rumford, and Sturgeon Landing at 18 Park St. in Augusta.

The company also develops commercial properties and market-rate housing and repurposes historic buildings. It’s currently engaged in two Portland developments, Stevens Square at Baxter Woods condo project on the site of the former Catherine Macauley School, and Rumery Lofts on Forest Avenue.