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W W W. M A I N E B I Z . B I Z 21 F E B R UA R Y 9 , 2 0 2 6 F O C U S C O M M E R C I A L D E V E L O P M E N T Workforce rentals Following the success of its first 10-unit development in Deer Isle, Island Workforce Housing has 12 workforce rentals underway in Stonington. e $2.9 million Oliver's Ridge development, completed in 2023, is 10 two-bedroom rentals in five duplexes. All units are occupied. e $3.4 million urlow's Way proj- ect, 12 apartments across three modular buildings, is due to wrap this spring. Both were financed through capital campaigns and bank loans. Units are prioritized for households with year- round island workers, with incomes from 80% to 140% of Hancock County's area median income, adjusted for household size. e projects respond to lack of housing in the small midcoast island towns. Of nearly 800 year-round jobs available, about 100 go unfilled due to lack of housing, especially for first-time homebuyers and those in the lower- income bracket, a study said. Mill conversion Newmarket, N.H.-based Chinburg Properties' redevelopment of the cen- tury-old 68,000-square-foot Jagger Mill, at 5 Water St. in Sanford's Springvale district, will bring 86 market-rate apart- ments: 39 studios, 37 one-bedrooms and 10 two-bedrooms. e $21 million project received construction bank financing and utilizes state and federal historical tax credits. e first phase should wrap in July and the total project by the end of the year, says Paul Goodwin, Chinburg's director of commercial development. Design and construction are in- house by Chinburg Builders Inc. Originally part of the larger Goodall Worsted Co. alpaca mill complex, then housing Jagger Brothers yarn manu- facturing, the brick building features large factory windows and high ceilings typical of the era. Chinburg acquired the property in 2024. C O N T I N U E D O N F O L L OW I N G PA G E » (207) 839-2744 / info@greatfallsinc.com 20 Mechanic Street, Gorham See what we've been working on at greatfallsinc.com CONSTRUCTING WITH A PURPOSE SINCE 1988 CONSTRUCTION MATERIALS TESTING AND INSPECTIONS • Soils, asphalt, concrete, masonry, fireproofing, and steel: Reduce potential delays, defects, and unexpected costs. ENVIRONMENTAL CONSULTING • Soil and groundwater characterization, landfill monitoring, and site assessments GEOTECHNICAL ENGINEERING AND EXPLORATIONS • You see what's on top, we'll show you what's below. RWGILLESPIE.COM / INFO@RWG-A.COM BIDDEFORD, ME 207-286-8008 • NH 603-427-0244 • MA 508-623-0101 The way leasing is going, this seems like a home run. — Cam Reber A.R. Building Co. P H O T O / C O U R T E S Y I S L A N D WO R K F O R C E H O U S I N G In Stonington, Island Workforce Housing is developing a modular project with 12 rental units called Thurlow's Way, due to be completed in May/June.