“This building is literally a cornerstone to the town’s continued efforts to revitalize, restore and rejuvenate our housing stock and help grow our economy,” said Rumford’s town manager
In the simplest of terms, "affordable" when referring to housing is not a vague adjective. It refers to homes, either for rent or for purchase, priced exclusively for households whose income does not exceed certain levels.
Housing production of all types is underway across Maine, but affordability remains the dominant issue, as the state’s median income fails to keep pace with prices,
Construction has begun on the Lambert Woods North apartments at 2274 Washington Ave. Extension in Portland, phase one of a large affordable housing development that will eventually include 162 apartments.
Construction has begun on the Lambert Woods North apartments in Portland, part of an affordable housing development which will eventually include 162 apartments.
Federal and state tax credits will be used to finance dwellings for older adults and families across eight development sites in the cities of Biddeford, Belfast, Lewiston, Portland, South Portland and Rockland.
A new development will offer 48 condominiums at prices ranging from $378,000 to $425,000 to eligible buyers — households who make no more than 120% of the area mean income.
Construction of two affordable housing developments has finished up in Rockland and Augusta — part of the push in both cities and across Maine to tackle the shortage of homes.