Affordable housing units to be unveiled in Portland
Photo / Peter Van Allen
Bayside Anchor, built at a cost of $7.8 million at 81 E. Oxford St., will be a mixed-use passive-house building in the East Bayside neighborhood of Portland.
Avesta Housing will open 45 new housing units, including 36 earmarked for buyers with a household income of $23,000 to $49,000.
Bayside Anchor, built at a cost of $7.8 million at 81 E. Oxford St., will be a mixed-use passive-house building in the East Bayside neighborhood of Portland.
Avesta, a Portland nonprofit with 2,000 apartments in its portfolio, partnered with the Portland Housing Authority on the project, which will be unveiled on June 7.
“Bayside Anchor is a service hub for low-income residents in East Bayside, giving the project its name as a stabilizing ‘anchor’ for the community,” said PHA Executive Director Mark Adelson.
It is the PHA’s first new development in 45 years and a “first step in revitalizing our properties in this neighborhood,” Adelson added. PHA buildings house 6,500 residents, or 10% of the city’s population.
Kaplan Thompson Architects was the designer and Wright-Ryan Construction was the general contractor; both companies are based in Portland.
Funding for the $7.8 million project came from Enterprise and Deutsche Bank (for the pre-development loan), Bangor Savings Bank (construction loan), city of Portland (HOME funds), MaineHousing (HOME funds and interest-only debt) and Boston Capital (low-income housing tax credit equity).
Bayside Anchor is expected to be certified by the Passive House Institute U.S., based on energy efficiency and resident comfort, with annual energy costs expected to be $125 a year, Avesta said in a press release. There is no centralized heating system needed in the building because the building is super insulated, airtight and well ventilated.
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