Four developers awarded $14.5 million from senior housing bond

Dana Totman of Avesta at Fox School South Paris

Photo / Maureen Milliken Avesta Housing is one of four developers for seven projects to be awarded funding from a 2015 bond issue that was released in 2019. Dana Totman of Avesta, seen speaking at the nonprofit's grand opening of senior housing in South Paris in June, said the release of the bonds is essential to help ease Maine's senior housing crunch.

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By Staff

Seven developments across the state will share $14.5 million in senior housing bond money, representing 212 new affordable units for those 55 and holder, MaineHousing announced.

The bond, combined with MaineHousing resources and other money, will generate $45.8 million to build the housing, the state's housing authority said. Three of the projects are being developed by Developers Collaborative, of Portland, representing 93 units. The others are being developed by Housing Initiatives of New England, of Portland; Kennebec Valley Community Action Program, of Waterville and Augusta; Avesta Housing, of Portland, and Realty Resources, of Rockport and Bangor.

The bond money was approved by voters in 2015, but wasn't released until it was signed by Gov. Janet Mills after she took office a year ago.

Development projects selected for the bonds are:

The Uplands, Scarborough, development by Developers Collaborative, 39 units;
Bessey School II, Scarborough, developed by Housing Initiatives of New England, 40 units;
Hartland Senior Living, Hartland, developed by Kennebec Valley Community Action Program, 30 units;
Ellsworth Senior Housing, Ellsworth, developed by Developers Collaborative, 29 units;
Belfast Senior Housing, Belfast, developed by Developers Collaborative, 25 units;
Belfast Acres Estates, Belfast, developed by Realty Resources, 24 units;
Willow Springs, Farmington, developed by Avesta Housing, 25 units.

“These awards are another welcome step forward for older Mainers,” said Mills in a news release this morning. “The construction of these new homes, along with the repair and weatherization of existing homes, will ensure that more Maine seniors can live safely, comfortably, and with dignity as they age. I am proud to have signed these long-overdue, voter-approved bonds and look forward to the communities they help create.”

Daniel Brennan, MaineHousing director, said, "Older Mainers need quality, accessible homes they can afford. The need is substantial. We’re hitting the ground running in the new year and are looking forward to putting these funds to work.”

The $14.5 million senior housing bond was approved by nearly 70% of Maine voters in a statewide referendum in 2015. The housing bond funds included $500,000 allocated to home repair and weatherization services for existing homes.

Dana Totman, president and CEO of Avesta, told Mainebiz last year that the bond release is a step in the right direction, but Avesta still has a backlog of applicants.

“Selling those bonds a couple year ago would have been more favorable,” he said, “but we’re encouraged that signing the bond will be a good first step.”

The awards follow MaineHousing’s recent announcement of federal Low Income Housing Tax Credit awards, which will build or preserve 317 housing units, 275 of which are affordable. The combination of the two awards results in 487 new or preserved affordable housing units for Mainers.