Affordable Housing Trends with Avesta Housing

 

It’s well known at this point that Maine and the nation face a historic  housing crunch. A recent report from the Governor’s Office and Maine Housing projects more than 80,000 new units are needed in  Maine by 2030 to keep pace with current and future demand. It is often  cited as the top issue in public opinion polling. We have our work cut out  for us to alleviate the crunch. One way we can build more housing is by  fostering partnerships between developers and businesses.  

With more than 100 properties and over 4,500 residents, Avesta is  the largest nonprofit affordable housing provider in northern New  England. We have over 800 housing units in our pipeline, including a  development in Kennebunk. The proposed 74-unit development resulted  from a partnership with Kennebunk Savings Bank (KSB).  

Brad Paige, KSB’s recently retired  President & CEO, and his team  contemplated how to make the most  of vacant land adjacent to the bank’s  operations center. It quickly became  clear that the land could be put to  better use by partnership with Avesta  to create housing opportunities for  older adults. KSB donated the 12- acre parcel and $550,000 to Avesta.  They also donated another 12-acre  parcel to conservation. 

Avesta’s partnership with KSB is  a model for other businesses that  want to be involved in unlocking  housing opportunities for Maine  families and very likely their own  employees. Whether it is donating  land, contributing to capital costs,  or speaking in support of housing at  local meetings, now is the time for  the business community to be part  of solving the housing crunch. 

RYAN FECTEAU

Avesta Housing  

Senior Officer of Planning  and Partnerships