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V O L . X X X I N O. I I I F E B R UA R Y 1 0 , 2 0 2 5 16 C O M M E R C I A L D E V E L O P M E N T F O C U S Homing in on AFFORDABLE HOMES Developers get creative to build more 'missing middle' housing B y L a u r i e S c h r e i b e r F rom modular construction to opportunity zones to a formula to make it affordable to build middle-income housing, private developers are finding various ways to build much-needed affordable and workforce housing. A formula for middle-income housing Middle-income housing is the focus of Domus, a development company launched by Portland developer Jack Soley in partnership with nonprofit affordable housing provider Avesta Housing and Tim Hebert, CEO of Hebert Construction in Lewiston. Construction is strong for affordable and market-rate housing, driven by gov- ernment subsidies on the one hand and strong rates of return on the other. Construction aimed at middle- income buyers is stymied by skinny margins, says Soley. "e schoolteacher, the police officer, the firefighter, the nurse — they are left behind in this struggle to find housing in probably one of the most challeng- ing periods of the housing crisis that we have ever seen in this state," Soley says. "ey've been priced out of mar- ket-rate housing or they don't qualify for subsidized housing. All of the folks in the middle-income range are struggling to find housing, and even rentals have become expensive." Domus's mission is to build high- quality workforce housing, commonly defined as affordable to between 80% and 120% of the area median income. Soley is principal and founder of several real estate investment and development companies in Greater Portland with a portfolio interest of commercial and hospitality space. "Realizing that the margins are less but the risk is less, the whole point of Domus is to encour- age people to look at this as a viable development space," says Soley. "It's not about us getting rich but about changing what developers feel is a viable development going forward." Since 2008, Soley has focused on residential development including rental and home owner- ship. In 2017, through an open bid process, Soley purchased land at 60 Parris St. from the city of Portland to develop work- force housing. e project, Parris Terraces — 23 middle-income-priced condominiums, competed in 2019 P H O T O / T I M G R E E N WAY Jack Soley stands near Seavey Terraces and where the Domus project will be built in Westbrook. The first project of middle-income housing developer Domus, led by Jack Soley with Avesta Housing and Tim Hebert, is planned next to Soley's Seavey Terraces.