HOULTON, Maine — More than a year after it was announced, construction on Market Square Commons likely will begin before the end of the month.
The Town Council was told at a recent meeting that a project to build an affordable-housing complex for seniors will begin after June 20.
John Egan, housing developer for Coastal Enterprises Inc., said the agency still intends to build the $2.5 million, three-story apartment complex.
The company announced in late 2007 that it would construct the complex in Market Square in the back of the Temple Theatre parking lot. The project gained approval from the municipal planning and zoning boards.
Then the economy tanked, and funding for the project was uncertain for a time.
Not anymore, Egan told councilors.
“The last financial hurdles have been cleared,” he said during the meeting. “Constructional closing is expected to happen from June 15 to 20, and construction should begin immediately after that.”
The project will create 28 units that will be rented to seniors who are in one- and two-person households.
Residents who meet eligibility standards will pay rents of $430-$575 a month, including all utilities, according to information provided by CEI.
Financing for the project will come from MaineHousing, which is an independent state agency that combines public and private housing funds, along with other sources, to benefit Maine’s low- and moderate-income residents. CEI will post a $600,000 financial commitment to the project.
An on-site services coordinator will assist in linking residents with local services and transportation. The housing is not intended for seniors with critical health care needs who would be better served in assisted-living or medium- to long-term health care facilities.
The complex, which will have a brick facade, will take approximately a year to construct.
Egan said he is “pretty sure everyone will like the property when it is finished.”
He added that the company enjoyed doing business in town.
“The community has been very welcoming and town officials have been great,” he said. “It has been very refreshing to do business here. I can’t wait for the next project.”
The building was set to open this fall, but now is scheduled to house residents sometime next year.