Development News

60-Unit Pearl Place Apartments Opens in Portland’s Bayside Neighborhood

Avesta Housing recently completed Pearl Place Apartments in Portland’s Bayside Neighborhood. The project was financed with low income housing tax credits syndicated by the Northern New England Housing Investment Fund and with additional financing from MaineHousing, the City of Portland, the Federal Home Loan Bank of Boston, and TD Banknorth N.A.

The 1, 2, and 3-bedroom units at Pearl Place include heat, hot water, and high speed wireless internet in the rents and offer such amenities as dishwashers, private balconies, and 1 ½ baths (in 3-bedroom units). The project offers residents on-site single-stream recycling service, laundry rooms, a community room, management office, and a rooftop deck.

Pearl Place is a “green building” and has pre-scored for Gold standard certification under the USGBC’s LEED for Homes program and has been awarded EnergyStar® rating.