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Rendering / Courtesy of GreenMars Real Estate
Wilbur's Woods in Brunswick, features 21 three-bedroom condominiums available for $325,000 to income-restricted households.
Portland-based GreenMars Real Estate and Acadia Realty Partners hosted a ribbon-cutting Monday at Wilbur’s Woods in Brunswick, a new pocket community on McKeen Street of affordable condominiums that are priced well below the average home price for the region.
The 21 standalone condos at Wilbur’s Woods are listed at $325,000 for households that earn less than $105,360 annually, and all but one have been sold.
The project was supported by the state Affordable Homeownership Program, an initiative of the Maine Jobs and Recovery Plan, administered through MaineHousing. To date, the program has invested close to $20 million to help build more than 300 single-family homes for first-time buyers, in 21 communities across the state.
Gov. Janet Mills and Speaker of the Maine House Ryan Fecteau spoke at the event.
“The national news is full of stories about the high cost of living, and the difficulties families are having renting or buying a house," said Mills. "Well, here in Maine, we’re doing something about it through successful housing programs and sensible policy to help build more homes for Maine people – like these at Wilbur’s Woods.”
“The starter home in Maine is nearly extinct,” said Fecteau. “Wilbur’s Woods is a great example of forward-thinking development that delivers homes to working Mainers that they can afford.
“It’s a model for other developers and municipalities, like Brunswick, focused on helping Maine solve a severe lack of housing options.”
Chris Marshall, co-founder and partner of GreenMars, credited support for the project from Mills, Fecteau and the town of Brunswick, and noted partners on the development included Portland-based Nelson Property Services and Ben and Sons Construction, Bath Savings, Alexander Wiss of Keller Williams Realty’s Portland office and Shannon Richards, founder of Hay Runner, headquartered in Portland.
Marshall told Mainebiz that an 18-unit, multi-family apartment complex for middle-income households is the next phase of development for GreenMars on the Wilbur’s Woods property.
GreenMars and Acadia also have in the works two large-scale communities in Portland’s Deering village and in the Stroudwater neighborhood. GreenMars expects to break ground on Stroudwater Commons by the end of 2025.
GreenMars also repurposed Nasson in the Pines in Springvale, transforming former college dormitories into modern housing.
Marshall said the master plan for further development on the former Nasson College site includes seven additional phases. “Phase two is underway and should be permitted for groundbreaking in the new year. This is 13 single-family townhouses that will be sold at the $325,000 mark just like Wilbur's Woods.
“We have another 500-plus units in various stages of permitting including 130 units at Deering Village in Portland and 16 to 20 units on Taft Avenue in Portland. We’re also actively pursuing projects in Yarmouth and others in Portland, Falmouth and Saco.”
Acadia Realty Partners is the real estate platform of Acadia Capital Group investment firm, based in New York City with an office in Portland.
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Learn moreThe Giving Guide helps nonprofits have the opportunity to showcase and differentiate their organizations so that businesses better understand how they can contribute to a nonprofit’s mission and work.
Work for ME is a workforce development tool to help Maine’s employers target Maine’s emerging workforce. Work for ME highlights each industry, its impact on Maine’s economy, the jobs available to entry-level workers, the training and education needed to get a career started.
Whether you’re a developer, financer, architect, or industry enthusiast, Groundbreaking Maine is crafted to be your go-to source for valuable insights in Maine’s real estate and construction community.
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