MaineHousing Announces Award $30 Million In State Subsidy Awarded For Affordable Housing Development

Released: May 23, 2024

AUGUSTA –  MaineHousing is pleased to announce it has awarded $30 million of state affordable housing subsidies to help finance the development of 248 new affordable rental homes in six different Maine communities. 

This funding was made possible by the work of Governor Mills and Maine’s legislature during this past legislative session, with $17.5 million coming from the first half of the 131st Legislature in 2023 and another $10 million coming from the recently passed state supplemental budget in March.  

This investment in affordable housing for households up to 60 percent of area median income will leverage an additional $61 million boosting both Maine’s economy and housing resources in the cities and towns where these developments will be built.

“This funding announcement comes on the heels of five recently completed affordable housing developments in Maine, with a sixth celebrating its opening next week in Madison,” said MaineHousing Director Daniel Brennan. “These funding awards are yet another clear example of the unparalleled support for affordable housing development that has been shown by Governor Mills and a bipartisan coalition of state lawmakers who have made the creation of safe, warm and affordable housing for all Maine people their priority.” 

This important federal tax credit program, supplemented with these state subsidies, is one part in a strong network of programs that is allowing MaineHousing and its partners to achieve unprecedented levels of new affordable housing production. 

In all more than 30 developments including more than 900 new affordable homes are currently under construction in Maine towns and cities, large and small all over the state. 

This round of new developments, detailed below, will bring additional, much-needed housing to communities in Augusta, Bangor, Gardiner, Lewiston, Scarborough and Waterville.

“I have always believed that a home is much more than just a roof over your head, and with these new projects, we will make home a reality for hundreds more Maine families,” said Governor Janet Mills. “While there is more work to do, I am proud of this progress and of the funding that the Legislature and I provided to make it happen, and I thank MaineHousing for its continued work to create safe, comfortable, and affordable places to live for Maine people.” 

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