🔒Orono renovation highlights affordable housing for older adults

The preservation and rehabilitation of Main View Apartments, a 24-unit affordable housing development for older adults in Orono, is among a growing portfolio of similar projects in Maine’s rural areas, Gov. Janet Mills said this week.

Mills spoke at an event highlighting state and federal programs designed to foster more such projects.

Main View Apartments received support from Maine’s Affordable Housing Tax Credit, a program created in 2020 that has helped preserve nearly 90 homes statewide. More projects are in the pipeline.

The tax credit program is “helping Maine people who live in rural areas to stay in their homes safely and affordably, care for their families and live with dignity and comfort,” said Mills.

Mills, who is nearing the end of her second term as Maine's Democratic governor, is running for the U.S. Senate seat held by U.S. Sen. Susan Collins, R-Maine.

Saving affordability

Main View Apartments, located at 95 Main St., was built as a school in 1914. In 1988, the building was converted into housing through the U.S. Department of Agriculture’s Rural Development Section 515 program, which provides low-interest loans to rehabilitate or develop affordable housing in rural areas.

But Main View and hundreds of other apartments across Maine developed through the Section 515 program face the risk of losing affordability as mortgages mature and longtime owners want to retire and sell.

If the properties leave the program, they will no longer be eligible for federal subsidies that make homes affordable for those who live there.

State officials said that nearly 2,800 Section 515 homes across Maine could face affordability risks over the next decade.

Partners step in

When the owner looked to sell Main View Apartments, the Housing Authority of the City of Old Town assumed ownership in late 2024, with the goals of preserving long-term affordability and taking advantage of Maine’s Affordable Housing Tax Credit to complete significant building improvements.

The financing and ownership transfer were made possible through a partnership that included the authority, the Genesis Community Loan Fund, USDA Rural Development, Maine’s Department of Economic and Community Development and MaineHousing through the state’s affordable housing tax credit.

Genesis provided technical assistance to support the property transfer and preservation effort as part of its broader work across Maine to provide guidance and financing to support affordable housing.

Genesis financing supported the authority’s purchase of the property and renovations that included upgrades to heating and elevator systems, repairs to deteriorating ceilings, parking lot improvements, kitchen updates, and accessibility enhancements.

'Long-term stewardship'

“In today’s housing market, these improvements protect residents who would otherwise face higher rents and very few affordable alternatives,” said Laurie Miller, the housing authority's executive director. “Our goal is long-term stewardship.”

“Maine cannot afford to lose existing affordable homes faster than we can build new housing,” said Liza Fleming-Ives, Genesis’s executive director.

State leaders and housing organizations are working with the USDA to preserve the affordability of homes that were developed through the Section 515 program.

Speakers at the Orono event said that preserving existing affordable housing is as important as building new homes, particularly in rural areas where replacement options are limited.

Main View Apartments residents said they were relieved by the purchase and preservation project.

“Before this purchase, many of us worried about what would happen if the property were sold,” said resident Lisa Tissari. “The possibility of rent increases was frightening, especially for older neighbors and those with health challenges.”