Mainebiz

W W W. M A I N E B I Z . B I Z 11 J U LY 2 2 , 2 0 2 4 In-Town Commercial Boothbay Harbor, Maine 3,245 +/- sq.ft. One of Boothbay Harbor's most iconic commer- cial spaces is available for the first time since the 1950s. The property formerly housed a re- tail business, which attracted walk-in and local patronage in the heart of downtown Boothbay Harbor. With classic style and abundant pedes- trian traffic, this property makes a great foun- dation for one of the many allowed uses in the Downtown Business district. $869,000 TindalandCallahan.com | 32 Oak Street, Boothbay Harbor | 207-633-6711 FEATURED LISTINGS IN THE MIDCOAST Downtown Cafe Boothbay Harbor, Maine 700 +/- sq.ft. This well-established café has high foot traffic in a spectacular waterf ront setting. The establish- ment offers a waterside porch overlooking the harbor, inside dining, & patio dining. Historically a breakfast and lunch business there is opportu- nity for growth and additional revenue. Current- ly operated seasonally, the business has a loyal following with local and summer visitors. A turn- key business in a beautiful seaside setting. $795,000 Multi-Unit Commercial Boothbay, Maine 4,000 +/- sq.ft. Located at the gateway of Boothbay, this multi- use commercial building offers high exposure, on-site parking, town water and sewer, with 4 separate business rentals and 1 owner's storage area. Use the building for your own office or en- joy the income and use the storage space. This prime location is minutes f rom Boothbay Har- bor, the Country Club, the Botanical Gardens, and other area attractions. $789,000 B R I E F Investment fund pumps $61 million into five Maine housing projects B y L a u r i e S c h r e i b e r E vernorth has closed its latest investor fund, which will provide $61 million to finance 10 affordable housing projects in Maine, New Hampshire and Vermont. The housing capital syndicate, based in Portland and in Burlington, Vt., has a mission of advanc- ing the development of affordable housing in the three states. In this case, 15 investors committed the equity to Evernorth's Housing New England Fund V as a financial resource for the region's critical affordable housing needs. Of the 10 developments that will be financed, five are in Maine. Here they are, including the developer, number of units and amount invested by Evernorth's Housing New England Fund V: Davis Road, Bangor — Developers: Bangor Housing Authority/Bangor Housing Development Corp., 32 apartments for adults 55 and older, $1.9 million. Congress Square Commons, Belfast — Developers Collaborative, 36 apartments for families, $8.2 million. Wedgewood, Lewiston — Lewiston Housing Authority with Avesta Housing serving as development consultant, combination of acquisition and rehabilitation plus new construction comprised of 82 apartments for families, $10.3 million. Oak Grove Commons, Bath — Realty Resources, acquisition and rehabilitation housing project comprising 34 apartments for families, $7.4 million. 99 Western Ave., Augusta — Mastway Development, 38 new apartments for families, $3.5 million. Evernorth has raised and deployed over $1.5 billion in equity capital for affordable housing, building more than 17,000 affordable homes for low- and moder- ate-income people across northern New England. Fund V investors included community, regional and national banks. "We raised capital from a wide-range of investors and new partners enabling us to expand our reach to preserve and create much-needed afford- able housing in these unprecedented times," said Nancy Owens, Evernorth's president. Evernorth raises equity by syndicating federal low- income housing and historic tax credits as well as various state, historic and affordable housing credits. "In addition to receiving a reliable return on their investments, the community banks and the regional and national companies that have invested with the Housing New England, Fund V will help to build or renovate tangible, long-lasting affordable housing resources throughout northern New England," said Cynthia Lacasse, Evernorth's executive vice president and chief program officer. Of the 10 properties financed by Fund V, nine are projected to be completed this year to create 371 homes. In addition to the properties in Maine, one is in New Hampshire and four are in Vermont. Evernorth was created by a merger of Housing Vermont and Nor thern New England Housing Investment Fund in 2020. Local banks contributing to Fund V included Bangor Savings Bank, which committed $4 million, and Bath Savings, which committed $1.25 million, according to a separate news release. Evernorth said it plans to unveil Housing New England Fund VI later this summer. R E N D E R I N G / C O U R T E S Y L E W I S T O N H O U S I N G A U T H O R I T Y Wedgewood in Lewiston is the Lewiston Housing Authority's project with 82 apartments for families.

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