200 New Homes Could Be on the Way in Portland, Maine

As a realtor here in Portland, it’s always exciting to see new developments, especially in current times. According to News Center Maine, GreenMars announced a proposal to build nearly 200 condos across two new projects in Portland: one near the Portland Jetport on Congress Street, and the other in the Deering neighborhood on Auburn Street.

News Center Maine said these proposed developments will be called "Stroudwater Commons" and "Deering Village," will include multi-family buildings along with some condos offering an accessory dwelling unit. For example, an extra studio apartment that could be perfect for renting out or housing a family member.

In addition to simply addressing Maine's current housing crisis, News Center Maine also said that GreenMars founders Marshall and Nate Green will be blending affordable housing with market-rate prices, and half of the condos will be priced for first-time buyers.

This, combined with Maine’s law LD 2003—which relaxes previous zoning restrictions—will certainly make it easier for projects like this to move forward. That said, it hasn't been approved yet. When will these proposed projects be approved appears to be unknown at the moment.

If you’re still scrolling through Zillow every day, relentlessly trying to find your first home, you're not alone. Keep hope alive and keep an eye on these new developments—they could be just what you need to finally get your foot in the door.