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Construction of 105 New Affordable Rental Units in Maine

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Governor Janet Mills announced that MaineHousing will finance the construction of 105 new affordable rental units in rural Maine communities as the result of a bill she recently signed into law.

The one and two-bedroom units – in Hallowell, Newcastle, Rockport, Rumford, Sanford, and Waterville – are made possible by L.D. 2209, which was unanimously approved by the Legislature and signed into law by the Governor last week, along with funding from the biennial budget. This bipartisan law authorizes MaineHousing to issue more bonds to finance affordable rental housing and mortgages for first time homebuyers.

The new law better matches MaineHousing’s mortgage purchase bond issuance authority to state housing production needs – allowing the Authority to finance additional affordable housing projects now and in the future.

Construction on the new units is expected to take 12 to 18 months and to create housing opportunities for hundreds of Maine people. The projects include:

  • Waterville: 165 Main Street Project – 18 Units
  • Hallowell: Tree Tops Apartments – 17 Units
  • Rockport: 6 Madelyn Lane – 18 Units
  • Newcastle: 16 Mills Road – 16 Units
  • Rumford: 988 Prospect Avenue – 18 Units
  • Sanford: Central Park Residences – 18 Units

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