Phase 1 of Castine housing project nears completion
The first building in an eight-building, 16-unit affordable housing subdivision in Castine is almost completed.
Developer Doug Koos, who owns the 40-acre Hancock Village Mobile Home Park where the subdivision is underway, told the Castine Patriot that he is invested in providing housing to working families in Castine. He currently rents about 20 mobile homes in his park.
“The biggest problem [in Castine] is quality of housing,” he said, adding, “Castine’s high value of real estate is a double-edged sword. It has had a negative impact of making it harder for new families to settle here.”
Affordable housing in Castine is defined, by ordinance, as costing not more than 30% annually of 125% of the Hancock County median income, or about $1,400 per month. Koos said he would be renting “below-the-peak” rent permitted.
“The need for workforce-type housing is still acute,” Town Manager James Goodson told the newspaper. “If Doug were to build out all 16 units, I still think there would be a need.”
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