ReinCorp is building 18 apartments in Sanford
Courtesy ReinCorp
Two new apartment buildings are underway at 10 and 12 School St. in Sanford.
More new housing projects are underway in the city of Sanford.
Under construction on School Street are 18 affordable apartments being built by ReinCorp, which is a development, construction and property management company based in the village of Springvale.
The Central Park Residences are planned to eventually consist of three new buildings at 10, 12 and 14 School St. The first two buildings, at 10 and 12 School St., are under construction now and will be ready for occupancy later this year.
Tim Reinken told Mainebiz, “These buildings will provide much needed workforce housing and are built to energy-efficient standards.” Funded by MaineHousing and the state Rural Affordable Rental Housing Program, the apartments in the first two buildings will be available for tenants whose income is no higher than 80% of area median income.
Buildings 10 and 12 will have 16 one-bedroom units and two, two-bedroom units. The one-bedroom units will be approximately 650 square feet and are expected to rent for around $1,600 per month, including utilities. The two-bedroom units are approximately 800 square feet and are expected to rent for close to $1,900 per month, including utilities.
A third building, proposed for 14 School St., is projected to have 12 apartments, priced at market rate, which Reinken said he hopes to have ready for occupancy next year.
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