Szanton Co.

Maine Cooperative Development Partners is installing the first phase of a 20-unit affordable condominium project off Douglass Street. Modular units are being built at KBS Builders’ South Paris factory and installed by Brunswick-based Backyard ADUs. 

The expansion to West Bayside is part of momentum seen in the neighborhood in recent years, said one broker.

The nonprofit financing syndicator focuses on affordable housing and community investments in Maine, New Hampshire and Vermont. The latest round will help create 492 homes.

Portland-based Maine Cooperative Development Partners has approvals for a total of 62 housing units at Dougherty Commons. Construction of the final phase of 42 additional condos is planned for early 2026.

Developer Nathan Szanton said the Picker House Lofts name honors the building’s provenance as a cotton-mill processing center.

Nathan Szanton, developer of affordable housing projects in several Maine cities, tells Mainebiz he plans to move to Colorado on June 1. Szanton Co. has had a Denver development office, headed by the owner's son, since 2022.

Dougherty Court will have 63 apartments in Portland's Libbytown neighborhood, right next to a recreation field.

Whether affordable apartments or affordable homes for sale, Maine desperately needs more of them. There's been some progress. The state is helping to lead the effort, especially in rural areas.

The Uptown will have 60 rental units, with 18 offered at market rate and 42 for low-income tenants. Rents range from $794 to $1,495, depending on income.

Looking at building permits issued for structures of five units or more, 2022 added more housing units than any year in the past two decades. The current year will likely fall short of 2022, but still be among the most productive years for construction of multifamily housing.