WELLS - After more than three years of effort, Avesta recently completed the purchase of Stephen Eaton Apartments in Wells. This project built in the early 1980's was originally financed by Rural Development and was in risk of being converted to market rate housing. Avesta was able to work with federal and state officials to acquire the project and ensure the long term affordability and preservation of the 36 units of affordable housing for seniors in southern Maine. This preservation effort will involve an extensive rehabilitation of the project including new windows, heating systems, new roofs and many interior upgrades and increased accessibility.
The project was financed by MaineHousing, TD Banknorth and the Northern New England Housing Investment Fund. For rental information Click Here or call 553-7777.