Mainebiz

February 6, 2017

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V O L . X X I I I N O. I I I F E B R UA R Y 6 , 2 0 1 7 26 G R E AT E R P O R T L A N D F O C U S at 167 Newbury St., will be Portland's fi rst project to conform to the new inclusionary zoning ordinance. One-bedroom units at Luminato are priced at $260,000 to $300,0000, while three-bedrooms units are listed at around $1 million. Shared amenities include a guestroom, lounge, fi tness center and roof deck. Completion is expected this August. e 24-unit project already has 20 buyers. Morris has done an informal analysis, and fi nds buy- ers range in age from their 20s to 50-plus. Some own or work for Maine companies. Others live and work outside of Maine but have bought a condo as a second home. ey also include multi- generational Mainers, families, singles, downsizers and fi rst-time home-buyers. e inclusionary zoning off ers three avenues for developers to provide workforce housing: Either price 10% of their for-sale units, located on-site or off -site, so they're aff ordable to buyers with incomes at or below 120% of the area median income, which is $61,500. Or rent 10% of their apartments to households ยป C O N T I N U E D F RO M P R E V I O U S PA G E AAAENERGY.COM AUBURN, NH 603.626.4884 PITTSFIELD, ME 207.487.3706 SCARBOROUGH, ME 207.883.1473 Get it done right - the rst time Don't underestimate the impact a properly designed, installed and maintained mechanical system can have on your people and processes. Enjoy longer leases, happier tenants, more productive employees and consistent products. It's worth the investment in the long run. To learn more call 207.883.1473 or email info@aaaenergy.com HEATING AIR CONDITIONING REFRIGERATION MAINTENANCE DESIGN/BUILD TM P H O T O / T I M G R E E N WAY Susan Morris, right, principal of The NewHeight Group, and Erin Cooperrider, development director for the nonprofi t Community Housing of Maine, in front of the future Luminato, a condo development at 167 Newbury St. in Portland.

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