LIHTC Financing to Help Redevelop Maine Property

Boston Capital is investing in the preservation and redevelopment of Deering Place, a 75-unit mixed-income development for families and individuals in Portland, Maine.

The latest project by Portland-based nonprofit Avesta Housing, Deering Place will serve families earning 50% or less of the area median income.

“Deering Place represents our 14th investment with our partner Dana Totman and our friends at Avesta Housing,” said Jack Manning, president and CEO of Boston Capital. “Given the market’s incredible demand for affordable housing, we’re excited to be involved in the preservation, redevelopment, and expansion of housing in the historic Parkside neighborhood in downtown Portland.”

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