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In the News

In the News

Bayside housing would be built on tax credits


The apartments would provide housing to individuals and families who earn between $18,000 and $45,000 a year.

Portland Press Herald
By Dennis Hoey
July 29, 2013

The Portland Housing Authority is leading an effort to develop affordable dwellings in an area of the city's Bayside that was partially demolished as part of a "slum clearance" effort that took place during the 1960s.

Bayside Anchor would feature 42 units, the majority of which would offer rents ranging from $535 a month for an efficiency apartment to as much as $1,000 for a two-bedroom unit.

The apartments would provide housing to individuals and families who earn between $18,000 and $45,000 a year.

Bayside Anchor would be constructed in the city's Kennedy Park neighborhood on a vacant Boyd Street parking lot near the intersection with Oxford Street.

The $7 million project would be financed with federal tax credits and federal funds administered by the Maine State Housing Authority and the city of Portland.

Greg Payne, a development officer with Avesta Housing, has been acting as the project's development consultant.

Payne said Sunday night that Bayside Anchor learned recently that it also won a $250,000 low-interest loan after placing first in a national contest called Lowering the Cost of Housing Competition. The loan will be used to cover some of the project's initial costs such as design and planning.

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