December 23, 2016
Mainebiz
MaineHousing will be distributing more than $3 million in 9% Low Income Housing Tax Credits to six development projects that received the highest number of points under the Qualified Allocation Plan scoring system.
The projects will create 207 family units and 83 elderly units.
Development Director Mark Wiesendanger said the developers were given notices to proceed in mid-December. Fourteen projects from 12 developers were submitted, but one was withdrawn, totaling 572 units and $6.6 million in requested credit. Eight projects were family housing, while six were elderly.
Projects sharing $3.08 million in tax credits, which will bring $28 million to nearly $30 million in private investment, are:
62 Spring Street Apartments, Auburn, 41 family units, new construction, Anew Local Community Development.
Oriole Way Apartments, Ellsworth, 50 family units, new construction, Oriole Way GP LLC.
Riverview Terrace, Westbrook, 83 senior units, acquisition/rehab with preservation set aside, Anew Local Community Development.
The Hartley Block, Lewiston, 63 family units, new construction, The Szanton Co.
Summer Street Workforce Housing, Gardiner, 15 family units, new construction, Developers Collaborative.
Southgate House, Scarborough, 38 family units, conversion and new construction, Avesta Housing Development Corp.
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