Maine Real Estate For Sale !


Downtown Houlton Maine Future Home For 28 Unit In 3 Story Apartment Complex!

houlton maine,bridge,housing project,coastal enterprises,iris netork,msha,mooers realty

Looking Down The... Meduxnekeag River in Downtown Houlton Maine.  Now that's a setting.

The east end of the Houlton Maine foot bridge will lead to a new housing project in the Shiretown.

Over 2.5 million to be invested in the Market Square parking lot development.  Coastal Enterprises, the owner of the complex, will offer units to residents meeting eligibility guidelines. Tenants will expect to pay rents in the $430 to $575 range which includes all utilities. 

CEI's John Egan talked recently at the Houlton Rotary Club to announce the plans to the group.  This project is adjacent to the Temple Theatre and offers real community living with a short walk being the key to reaching everything from the post office, shopping, library and summer nights listening to McGill's Community Band.

This project will create a new group of seniors for the downtown. Affordable housing is created due to subsidies, grants, tax credits to bring costs down thru the building phase. 24 of the 28 units are one bedroom and designed for one or two people.  For example, the Iris Network helped throw their support into the apartments because a half dozen are being specially designed for the visually impaired.

The funding for the Houlton Maine project was as Egan said "Like pushing a rock up a hill". 

The complicated timed events to get all the pieces in play were a challenge but he did admit that Houlton having a Tax Increment Financed vehicle (TIF) in place saved more paperwork and local governement political hoops to jump thru.  He indicated to the Houlton Rotary Club the setting, local reception and need all made the effort worthwhile. He praised Houlton Maine town mamager Douglas Hazlett and the town council for their support and professionalism.

In addition to this project, construction long over due on US Rt 2A (Bangor Road) is now underway. Dump trucks, construction workers and earthwork equipment are a common sight for locals this summer. July ground breaking expected on this Market Square project that is a mix of state and federal financing programs.

Management of the project will be done on the local level. If the apartments were simply constructed in real world costs, rents to make it pay would be much higher.  For more on the Houlton Maine Rotary Club, visit | 207.532.6573

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Comment balloon 0 commentsAndrew Mooers | 207.532.6573 • May 26 2008 01:02PM


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