Issue link: https://nebusinessmedia.uberflip.com/i/1535337
V O L . X X X I N O. X I I § 2 J U N E 2 , 2 0 2 5 14 M aine continues to experi- ence a severe shortage of housing, at all price levels, and the rise in rental and purchasing prices still outpaces income adjust- ments for most Mainers. e most recent comprehensive study (released in 2023) on what's being called a crisis by housing advo- cates, policy makers, real estate and construction professionals along with everyone in search of housing — found that Maine needs 84,000 new homes by 2030 in order to meet demand. at level of building calls for roughly doubling current production. To meet these goals, Maine is going to need further funding and technical support from state government, input and tracking from municipalities, and work at both the state and local level — by community officials and citizens — to streamline the approval process. With 2030 on the horizon, Mainebiz has been looking at what progress the state is making in meeting the need, as well as the challenges that still make finding housing that's affordable so dif- ficult for so many. How we got here "For years we haven't been build- ing housing fast enough in Maine, and we're falling farther and farther behind," says Portland-based devel- oper Nathan Szanton, who has cre- ated close to 800 apartments in Maine and New Hampshire in the 20-some years he's been in the business. New housing starts have been restricted largely by rapidly esca- lating costs for material, which is beyond local control. Szanton notes, "e current construction cost envi- ronment makes it impossible now to build market-rate without charging very high rents." In addition to overly cumber- some local approval processes and a shortage of construction workers, increased demand has been a huge factor. In the past four years, nearly 63,000 new residents (according to the latest U.S. Census), sought refuge in "e way life should be" state, in the wake of the COVID pandemic. Addressing the housing crunch With a need for 84,000 housing units by 2030, Maine chips away at the challenge B y T i n a F i s c h e r F I L E P H O T O / T I N A F I S C H E R Developer Nathan Szanton has been a key driver in developing affordable housing in Lewiston-Auburn, Bath, Biddeford and Portland. He's pictured here at 45 Dougherty, one of his recent apartment projects in Portland. C O N T I N U E D O N PA G E 1 6 »