We are proud to announce that Firehouse Village in Scarborough has won a 2024 Notable Project Award from the Maine Real Estate & Development Association (MEREDA)! Firehouse Village is a 2.6-acre, mixed-use development that includes Village Commons (pictured), a 31-unit Avesta property that provides safe, quality, affordable homes for older adults. The Notable Project Award
Affordable housing presents a paradox. The National Low Income Housing Coalition estimates the nationwide shortage at 7.1 million affordable units, with the majority of states having 40 or fewer homes available per 100 extremely low-income renters. Yet despite this high demand, new affordable product is increasingly difficult to build. Add up the potential impact of tariffs, high
MAINE, USA — As homeownership continues to stretch out of reach for many, dozens of existing homeowners in rural Maine are facing foreclosure, according to court documents. The recent series of foreclosure filings is related to what are known as Section 502 loans, issued by the US Department of Agriculture. The loan program is aimed
Oscar & Ruth moved into their Avesta home in South Portland five years ago with their young daughter. Since then, they have flourished – Oscar, who has a bachelor’s degree in industrial engineering, works full-time as a machine operator, and they have welcomed two sons to their family. Both Oscar & Ruth have obtained U.S.
Some of the hundreds of rural Mainers who bought their homes through a government loan program soon could be hit by what state housing advocates have called a “tsunami” of foreclosures, the origins of which remain unclear. For decades, the U.S. Department of Agriculture’s Rural Development office has offered low-income, first-time homebuyers all over the country
The students in Nicole DiGeronimo’s first-time homebuyer classes are increasingly older with a little more money saved up. They still can’t buy a home in Maine. “These are people that probably never anticipated it would be so difficult to purchase a home,” DiGeronimo, who directs Avesta Housing’s homeownership center, said. These homebuying hopefuls, often aged
Three years ago, Maine lawmakers passed a landmark bill designed to increase home construction and ease the state’s worsening housing crisis. Now, almost one year after implementation, some worry the law hasn’t lived up to its potential. “I don’t think we’ve seen nearly that much uptake since LD 2003 passed,” said Maine House Speaker Ryan Fecteau, D-Biddeford.
Avesta Housing recently joined its partner Preble Street to help celebrate 20 years of providing safe, quality, permanent housing and 24-hour support services for people who were chronically homeless in Maine. On March 25, we celebrated the 20th anniversary of Logan Place, which provides housing and services for men and women in Portland. On April
When Russell’s seasonable job ended six years ago, he was unable to afford the rent on his apartment and began living in his truck. Then a deer jumped through one of the truck’s windows and totaled it — in the middle of winter. “I had no job, no truck, and no place to live,” says
In 2024, Avesta Housing provided 3,072 affordable homes to more than 4,600 people in Maine and New Hampshire. But these numbers only tell part of the story. You can learn more about how we are investing in the people in our communities by reading our 2024 Community Impact Report, which includes real estate development news,
