Depot Terraces is the latest development to get the green light from the Freeport Planning Board. The four-story, 45-unit condominium complex, to be built on Depot Street, got swift approval from the board last week.
Clover Terraces is targeted to buyers who earn between 80% and 120% of the area median income — too much to qualify for subsidized housing but too little to afford Maine’s skyrocketing home prices — often referred to as the state’s workforce population.
The project, slated tor completion in late 2026 and dubbed Clover Terraces, targets middle-income, first-time homebuyers — those who earn between 80% and 120% of the area median income.
By using prefabricated panels for walls, elevator shafts, floors and roofing, Hebert Construction is fast-tracking building time on a 61-unit affordable senior housing project.
A century-old carriage house in Portland’s West End is being converted to five condominiums. Four more are being built adjacent to the original building. The development team includes Tim Hebert, Jack Soley and Ali Malone.
The block lease will rented at rates affordable for students and will help accommodate growth of the student population at the University of New England's Portland campus.
STARC Systems, a Brunswick Landing-based maker of clean barriers used by hospitals during construction, has been acquired by North Branch Capital, a private equity firm in Illinois.