Construction has started on a 201-unit affordable housing development in downtown Portland, Maine. Located within walking distance of restaurants, grocery stores, health services, and public transit, 89 Elm Apartments will be home to households earning up to 60% of the area median income. Avesta Housing, a regional nonprofit developer, and Reveler Development, the master developer
Children in Avesta homes are learning math skills and boosting their chances of academic success thanks to a new partnership between Avesta Housing and a Maine nonprofit. Presented by the Early Math and Language Initiative (EMLI), the Family Math program teaches pre-K children in under-resourced communities through a combination of storytelling, group activities, and one-on-one
PORTLAND, Maine — In a significant move to address Portland’s affordable housing crisis, WNC & Associates, Avesta Housing, and Reveler Development have officially broken ground on 89 Elm Apartments, a new 201-unit affordable housing community in downtown Portland. The $87.8 million development aims to provide critical relief in one of Maine’s most competitive rental markets. Located at 89 Elm
WNC & Associates is teaming up with Avesta Housing and Reveler Development to develop 89 Elm Apartments, an $87.8 million, 201-unit affordable housing community located in downtown Portland, Maine. The property is expected to finish construction in in 2027. It is the fourth community for WNC in Portland. Last month, the company and the Portland
Avesta Housing and Reveler Development have broken ground on a 201-unit affordable housing complex on the corner of Elm and Oxford Streets in Portland. Units in the complex will be made available to people earning no more than 60% of the area median income — which is $90,860, meaning the apartments will be open to
WNC & Associates (WNC), a family-owned business known as both a pioneer and leader in the affordable housing industry; Avesta Housing, a regional nonprofit developer of affordable homes; and Reveler Development, the master developer on the project which specializes in constructing and redeveloping multi-family and mixed-use properties in the Maine area; have announced the start
More than half of Portland tenants are struggling to afford rent. According to a new report from Harvard University’s Joint Center for Housing Studies, almost 52% of renters in the Portland-South Portland area are “cost-burdened,” meaning they spend at least 30% of their income on housing. And more than 24% are “severely” cost-burdened, meaning that more than
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
The Portland planning board has approved nearly 100 new apartments, including units intended to serve chronically unhoused people, in the city’s Bayside neighborhood. The project, developed by Avesta Housing and Reveler Development, will have 28 Housing First units at the site of the city’s former Oxford Street shelter. And it will offer both housing and
Federal Home Loan Bank of Boston has earmarked $23.5 million for the development or preservation of 456 units of rental housing in Maine, it said this week. The funding will go toward Augusta, Bath, Biddeford, Kennebunk, Kittery, Lewiston, Portland, Scarborough and South Portland. The grants and loans will be used to help pay construction, acquisition or
