41 Ashmont: Expanding Housing Opportunities Along Forest Avenue

The next phase of the 501-533 Forest Avenue redevelopment will bring 63 affordable homes to Portland, creating a total of 101 new housing units across the redevelopment.

July 10, 2026

Developers Collaborative

Affordable housing needs are not one-size-fits-all, and neither are the solutions.

Developers Collaborative is proud to introduce the next phase of the redevelopment of 501-533 Forest Avenue with plans for two complementary affordable housing communities at 41 Ashmont Street. Together, these developments will add 63 affordable apartment homes and bring the overall redevelopment to 101 new housing units, creating a diverse mix of housing options that better reflects the needs of Portland residents.

The proposal builds upon the successful completion of Rumery Lofts, which transformed the historic building at 501 Forest Avenue into 38 apartments and 12,000 square feet of commercial space. Now, the focus turns to expanding affordable housing opportunities through two new residential communities designed to serve different populations while strengthening the surrounding neighborhood.

Two Buildings, One Shared Purpose

The proposed development includes two separate residential buildings, each addressing a critical housing need.

The first is a 30-unit Home for Good permanent supportive housing community consisting of studio apartments for individuals transitioning out of chronic homelessness. Residents will have access to voluntary, 24/7 onsite supportive services provided by Catholic Charities Maine, helping them achieve long-term housing stability.

The second is a 33-unit affordable housing community for adults age 55 and older. Developed through the Low-Income Housing Tax Credit program, the building will provide one-bedroom apartments that help older adults remain in the community they call home.

Together, these developments represent a thoughtful approach to creating housing opportunities for people at different stages of life and with different needs.

A Broader Vision for Forest Avenue

The redevelopment of 501-533 Forest Avenue has always been envisioned as more than a single building.

By combining market-rate housing, affordable senior housing, permanent supportive housing, and commercial space within one redevelopment area, the project creates a more complete neighborhood while expanding housing opportunities in one of Portland's key corridors.

When complete, the redevelopment will include:

• 38 affordable and market-rate apartments plus 12,000 square feet of commercial space at Rumery Lofts (completed)

• 30 Home for Good permanent supportive housing apartments (planned)

• 33 affordable apartments for adults age 55+ (planned)

  
  

Together, these projects will provide 101 new homes that contribute to Portland's growing housing supply.

Community Conversation

On July 6, Developers Collaborative hosted a neighborhood meeting to introduce the proposal, answer questions, and hear feedback from residents before the project moves through the City's review process. As with any significant development, community members raised questions about topics including building height, parking, density, and neighborhood character, while also acknowledging the importance of creating additional housing in Portland.

Community engagement is an important part of Developers Collaborative's planning process, and feedback received during the meeting will continue to inform discussions as the project advances through Planning Board review.

Neighborhood Meeting, July 21, 2026

Join us for another neighborhood meeting on Monday, July 21, 5:30pm - 7:30pm at Temple Beth El, 400 Deering Avenue, Portland, ME 04103.

Recent Media Coverage

The proposed development has recently been featured in local news:

• Portland Press Herald highlighted the project and the community discussion surrounding the proposal, including its role in expanding affordable housing options for older adults and individuals exiting chronic homelessness. Read the article here.

  
  

• WGME reported on the growing need for affordable housing in Portland and the project's potential to provide housing for older adults and residents transitioning out of chronic homelessness. See the coverage here.

  
  

Learn More

As planning continues, Developers Collaborative will continue sharing project updates.

Visit our 41 Ashmont Project Information & Updates page to learn more about the proposal, view project renderings, and follow the project's progress.