CENTRAL COMMONS
Hallowell, Maine
CENTRAL COMMONS
6 BEECH ST.
HALLOWELL, ME
PROPERTY OVERVIEW
Central Commons includes 29 units of high-quality permanent affordable rental housing for seniors aged 55 and older, comprised of eight efficiency and twenty-one 1-bedroom units. The25,000 square foot building also includes an on-site laundry room, community space and tenant storage. Central Commons is a certified historic, adaptive reuse project that completely rehabilitates the vacant Central building, one of five historic buildings that comprise the core of the Stevens Commons campus in Hallowell Maine.
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Size
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29 Units
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Unit mix:
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0 bedroom: 8
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Units range from 484 - 573 square feet
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1 bedroom: 21
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Unites range from 580 - 754 square feet
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25,000 Square Feet
Target Population
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Older adults (55+)
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People at or below 50% area median income
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People at or below 60% area median income
Amenities
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Professionally managed
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24-hour emergency maintenance
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Smoke-free building
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Community space
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On-site laundry
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Tenant storage
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Multi-use campus with a range of residential offerings, business and commercial spaces, and recreational uses
DEVELOPMENT SNAPSHOT
Construction Type
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Historic Adaptive Reuse
Financing
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4% Tax Credits
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State $ Federal Historic Tax Credits
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Construction Lender: Maine State Housing Authority
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Commercial Lender: Bangor Savings Bank
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Syndicator: Evernorth
Development Cost
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Estimated $7.9 million
Year Completed
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Completion Date: 2020
Development Team
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Construction Manager-at-Risk: Wright-Ryan
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Architect: Ryan Senatore Architects
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Property Manager: Preservation Management, Inc.
Sample Floor Plans: