Affordable senior housing project underway in Rumford
- Brina Stairs
- May 14
- 1 min read
Developers Collaborative, based in Portland, has built close to a dozen senior housing projects across the state, from Ellsworth to Sanford.
Partners Laura Reading and Kevin Bunker’s newest project is an affordable complex for seniors in Rumford.
The project will include 33 one-bedroom apartments in a 28,000-square-foot complex at 101 Hancock St. All units are reserved for residents 55 and older.
Households earning no more than 60% of the area median income will pay a monthly rent of $956. Twenty of the apartments will be available for households earning no more than 50% of the AMI, for a monthly rate of $796.
Portland Builders Inc. is the construction company and Invivid Architecture, of Portland, handled the design.
Reading estimated that the project is close to 50% completed.
The project is financed through the Maine Department of Economic and Community Development, MaineHousing funds and NBT Bank, which is headquartered in Norwich, N.Y., and has a Portland office.
Rumford, which is in Oxford County, had a population 5,858 in the 2020 census.
Read the article here at mainebiz.biz.