New affordable housing project is planned for Kennebunk

courtesy/avesta housing Avesta Housing plans to build two 36-unit apartment buildings on Alewive Park Road in West Kennebunk.

Write a Comment

By Tina Fischer

The town of Kennebunk will be adding more affordable housing with the recent planning board approval of a 72-unit income-restricted apartment complex, to be built on a 12-acre parcel in West Kennebunk.

Avesta Housing plans two 36-unit buildings at 7 Alewive Park Road.

Kennebunk Savings Bank donated the site, along with $550,000, to the project. The land is divided into two parcels, the second of which the bank has gifted to the local land trust.

Avesta’s Rod Harmon told Mainebiz that the project, “Came about from a mutual desire [with Kennebunk Savings] to provide safe, quality, affordable housing to the Kennebunk community.”

All of the apartments will be for ages 55-plus and will be restricted to households earning 50% to 60% of the area mean income. The median household income in Kennebunk, according to the most recent census, is $93,000. All 72 units will be one-bedroom.

Harmon said he hopes to break ground on the first building in summer 2026. “Our real estate development team is currently building the capital stack from a variety of sources. Total projected development cost is approximately $11.8 million.”

This is not the first affordable housing project for Kennebunk. Town Engineer Chris Osterrieder said there are nine multifamily income-restricted properties in the community, with a total of 233 units.