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A condominium community being built off of U.S. Route 1 in South Portland is appealing to older buyers who are not looking to downsize as much as they’re opting for leaving behind lawn care and outside maintenance.
The majority of customers are from in-state, too, which feels like a bit of a rarity these days for the condo market in coastal Maine.
The first two phases of the 34-unit, 55+ luxury condominium development are under construction on an 18-acre parcel behind 761 Main St./U.S. Route 1, not far from the Maine Turnpike.
The Enclave at South Portland is being developed and built by Sudbury, Mass.-based Restoration Capital which specializes in 55-plus condominium projects, largely in the greater Boston region. This is the company’s first development in Maine.
Mainebiz took a tour last week of one of several completed units in the new neighborhood. The condos are being built to look like stand-alone, single-family homes but share one adjoining wall though the garages. Buyers can choose from two, two-bedroom styles, in either a single-floor or two-story layout, and many details can be customized as the units are being pre-sold as build-to-suits.
The open-concept layout of the unit we visited had a high ceiling with large windows and high-end trims and details. Units range in size from 2,053 to 2,274 square feet, are priced starting at $838,900. They are being marketed by Christina Mackey at Coldwell Banker Realty.
Mackey said the majority of buyers to date are from Maine and are a mix of retired and working professionals. “We’re seeing people who still want a good-sized home, but one without the exterior maintenance, where somebody else takes over the lawn mowing, snow shoveling, etc.”
Of the 34 condos, 23 have already been sold. There are currently 11 units in Phase three available, which Mackey said will be ready to close in 18 to 20 months from date of purchase.
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Learn moreThe Giving Guide helps nonprofits have the opportunity to showcase and differentiate their organizations so that businesses better understand how they can contribute to a nonprofit’s mission and work.
Work for ME is a workforce development tool to help Maine’s employers target Maine’s emerging workforce. Work for ME highlights each industry, its impact on Maine’s economy, the jobs available to entry-level workers, the training and education needed to get a career started.
Whether you’re a developer, financer, architect, or industry enthusiast, Groundbreaking Maine is crafted to be your go-to source for valuable insights in Maine’s real estate and construction community.
Coming June 2025
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