Old Cony High redevelopment moves ahead
The developer planning to convert the former Cony High School building in Augusta into senior housing has secured the financing needed to begin construction in the spring.
The Kennebec Journal reported the Portland-based Housing Initiatives of New England Corp. received tax credits from the Maine State Housing Authority to attract $6.8 million in private investment for the $11 million project.
The project, which will convert the 83-year-old high school left vacant since 2006 into 48 senior housing units, is one of six low-income housing projects to receive funding in the latest round of tax credit allocations from the housing authority.
Deborah Turcotte, spokeswoman for the Maine State Housing Authority, told the paper the tax credits in the latest round total $3.1 million and will be used to raise more than $30 million for low-income housing projects. The full list of projects, she said, will be released Tuesday.
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