Mainebiz

V O L . X X V N O. X X V I N OV E M B E R 1 1 , 2 0 1 9 10 B U S I N E S S M A I N E B U S I N E S S M A I N E B U S I N E S S N E W S F RO M A RO U N D T H E S TAT E One of Maine's most expensive markets tackles affordable housing B y M a u r e e n M i l l i k e n K e n n e b u n k p o r t — A plan for more affordable housing in one of York County's most expensive com- munities is underway, a project that could add five or six houses. The Kennebunkpor t Heritage Housing Trust hopes the project, which is under planning board review, will be the first in what could add 25 houses in the next six years. The plan for the small subdivision on School Street, which is Route 9, was approved for a MaineHousing Affordable Subdivision Program loan, which would lower the cost of the houses by $20,000 or more per unit. The subdivision would be one step toward solving a big problem in the coastal town of 3,600, where the median home price is $481,637 according to the trust. Many people who work in town or grew up there can't afford to live there. The homes built by the trust would cost between $220,000 and $245,000. Selling the houses as far less than the median home price would be made possible by the MaineHousing financing and because the trust will continue to own the land under the houses. "It's about the future of the town," said Patrick Briggs, a selectman and president of the Kennebunkport Heritage Housing Trust. "It's not just a Kennebunkport thing," he added. "It's a model that can be replicated in the rest of the state to address the need for affordable housing." The MaineHousing loans provide $20,000 per unit to developers of moderately priced single-family housing. There's a $2,500-per-unit bonus for units built in "high opportunity areas" — those with access to education, health care and jobs. MaineHousing revived the affordable subdivision loan program in June after it had been dormant for a decade, a victim of the recession. Its aim is to spur developments just like the one proposed in Kennebunkport. "Local municipalities and organizations know their communities best, and there isn't a one-size fits all approach to solving Maine's affordable housing challenges," MaineHousing Director Dan Brennan told Mainebiz. "As a result, we are working to create programs that help finance innovative local solutions — especially in places with significant housing needs. "We need more single family homes built at affordable prices throughout Maine and the Affordable Subdivision Program is part of that effort," he said. The housing is intended to fit into the surrounding area. 'A real neighborhood' That's a goal, too, of the Kennebunk- port housing trust, said Briggs and Sue Ellen Stavrand, also a member of the trust, said an interview with Mainebiz. The houses will match the character of the houses around them. Kennebunkport Heritage Housing Trust was formed last December. The goal of the trust is 25 affordably priced houses by 2025. "That seems very, very achievable using the model we're creating," Briggs said. "It will be permanent housing for town residents, not seasonal, not Airbnb," Stavrand said. The current proposal calls for a mix of two-story and ranch homes, with a possible townhouse. The houses would be have 1,200 to 1,400 square feet of living space. The houses in the subdivision would be modular, from Hallmark Homes, of Topsham, and would be built by South Paris-based KSB Builders Inc. (207) 402-3353 | HealthOptions.org Some of the real benefits of being at home in Maine Your employees can feel secure knowing that they have coverage from a health plan that understands the value of hard work, local support, and independence. Your employees can relax with the added level of support they get from having care managers who are just a phone call away. They'll like having coverage with the health plan that puts its Members first – while helping them get the most from their benefits. You can feel at home with Health Options. Contact our Business Development team or your broker today. B R I E F P H O T O / M A U R E E N M I L L I K E N R E N D E R I N G / C O U R T E S Y O F H A L L M A R K H O M E S A rendering of a home in the proposed Kennebunkport Heritage Housing Trust neighborhood. Sue Ellen Stavrand and Patrick Briggs

• Cover