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W W W. M A I N E B I Z . B I Z 17 F E B R UA R Y 4 , 2 0 1 9 F O C U S Totman says that all the projects have "seven or eight layers of financ- ing," and that Avesta is seeking fund- ing on a number of others. In the meantime, he says there's still a long wait list for the new 37-unit Carleton Street Apartments, in Portland's West End, and Huston Commons, completed in 2017 to pro- vide stable housing for 30 chronically homeless individuals with significant medical conditions in partnership with Preble Street and the Portland Housing Authority. e Portland Housing Authority also has its own project in pre-construc- tion in Portland's East Bayside neigh- borhood, 55 family housing units, half of which will be subsidized with rental assistance, 30% classified as affordable and the rest market-rate. A mile away in West Bayside, Szanton Co. is getting ready to break ground this June on 55 units of senior housing in its first Portland project in a decade. "We're really happy to be back in Portland," says the company's president, Nathan Szanton. "If you're focusing on the peninsula, Bayside is the place." Located at 178 Kennebec St., 40 units will be income-restricted and 11 market-rate, according to project lead Amy Cullen, a Szanton Co. develop- ment officer. "e units all look the same," she says, "so nobody knows who's low-income and who's not, so almost all of our projects read as market-rate housing." She also prefers the term afford- able to low-income, which can carry a stigma: "e vast majority of people that are in our low-income apartments are working — they're just at the lower end of the wage scale." Get in touch with your local Maine credit union, and own it. One Moment Can Make a Difference. It's the moment you realize you can turn your hobby into your business. As a local business itself, a credit union knows how to make your job easier. Along with conveniences like mobile and online banking, Maine's credit unions offer low fees, favorable rates, and personal service you can depend on every day. It's Your Moment. C O N T I N U E D O N F O L L OW I N G PA G E » Deering Place, 510 Cumberland Ave., Portland 75-unit mixed-income development, rehab and new construction Developer: Avesta Housing Architect, contractors: Archetype Architects, Zachau Construction Construction timeline: Late-summer start, occupancy by summer 2020 Brighton Ave. and Wessex St. Portland 40 one-bedroom apartments for seniors (55 and older) Developer: Avesta Housing Architect: CWS Architects Construction timeline: Groundbreaking in late summer West End Apartments, 586 Westbrook St. South Portland 64 units of non-age-restricted housing, mixed-use and mixed-income new construction Developer: Avesta Housing Architect: Kaplan Thompson Architects Construction timeline: Start in early fall R E N D E R I N G / C O U R T E S Y AV E S TA H O U S I N G R E N D E R I N G / C O U R T E S Y AV E S TA H O U S I N G R E N D E R I N G / C O U R T E S Y AV E S TA H O U S I N G

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