Developer aims to address need for affordable housing with new apartments in Parkside

Avesta Housing’s $10 million Deering Place would be available to residents with incomes of $20,000 to $40,000, a response to affordability concerns in Portland’s red hot real estate market.

Maine’s largest affordable-housing developer wants to build 82 apartments – mostly for low-income residents – in Portland’s Parkside neighborhood, adding badly needed units at below-market rates in a city where gentrification threatens to displace many low- and middle-income residents on the peninsula.

Randy Billings

Portland Press Herald