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A new development will offer 48 condominiums at prices ranging from $378,000 to $425,000 to eligible buyers — households who make no more than 120% of the area mean income.
“This project was about more than shingles and sheathing — it was about preserving the city’s story,” said Bill Fogle, the society’s president.
The old town hall was razed to make way for the much larger 18,500 square-foot facility.
Clover Terraces is targeted to buyers who earn between 80% and 120% of the area median income — too much to qualify for subsidized housing but too little to afford Maine’s skyrocketing home prices — often referred to as the state’s workforce
Construction of two affordable housing developments has finished up in Rockland and Augusta — part of the push in both cities and across Maine to tackle the shortage of homes.
The project will add 34 apartments and three independent cottages. The new residences will run on solar power, relying on a combination of on-campus rooftop panels and generation from two solar farms.
The lease provides space to consolidate adaptive gear storage and maintenance and provide accessible, on-site lodging for volunteers, interns and participants year-round.
The facility, a repurposed office building, has three times more classrooms than the Old Town location. Added capacity means more enrollment from rural areas.
The project, slated tor completion in late 2026 and dubbed Clover Terraces, targets middle-income, first-time homebuyers — those who earn between 80% and 120% of the area median income.
The buyer is the conservation group Penobscot Bay Waterkeeper, which paid Nordic Aquafarms Inc. $1.5 million for the site.
Before the sale, leases were secured for two of the three buildings, positioning the property as a strong investment opportunity with immediate income and long-term upside.
Historically, winter has offered a reprieve from the frenzied pace of the spring and fall market activity. “I predict that we are moving closer to experiencing a seasonal slowdown ahead,” said one broker.
Portland Little League aims to raise $1 million to revitalize all of the city’s fields.
Stephanie Albert will streamline procurement and contracting processes, enhance compliance practices and support both internal teams and clients.
The prospective buyer, Safe Harbor Marinas, is the largest marina and superyacht servicing business in the U.S.
The $5.5 million sale included a 2,500-square-foot house on nearly 22 acres, much of which will be turned over to the Kittery Land Trust.
Sponsored by Kennebunk Savings Bank
Small Business Saturday, the annual tradition that encourages shoppers to support local, independent retailers and entrepreneurs, marked its 16th rendition on Nov. 29, with events held across the nation.
Founded by American Express in 2010, the yearly event has become an essential part of the holiday shopping season. The Small Business Administration became the official co-sponsor in 2011.
Last year, shoppers turned out in full force to support their local communities, generating an estimated $22 billion in spending at small retailers and restaurants.
The 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.
Learn More
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.
Learn More
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.
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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