WNC & Associates, in partnership with Avesta Housing and master developer Reveler Development, has officially commenced construction on 89 Elm Apartments, a new 201-unit affordable housing community located in downtown Portland, Maine. This marks WNC’s fourth housing initiative in the Portland area, following the recent completion of the nearby Riverton Park development.
Situated at 89 Elm Street, the community is strategically located within walking distance of restaurants, grocery stores, health services, and public transit options. 89 Elm Apartments will offer income-restricted housing aimed at residents earning up to 60% of the Area Median Income (AMI), addressing a critical need in one of Maine’s most competitive rental markets.
“With virtually no vacancies and extensive waiting lists at comparable properties, the need for affordable housing in Portland is clear,” said Anil Advani, Executive Vice President of Originations and Finance at WNC. “89 Elm represents a transformative opportunity to bring thoughtfully designed, energy-efficient homes to the heart of the city. We’re proud to partner with Avesta Housing and Reveler Development to make this vision a reality.”
This project is expected to play a vital role in expanding access to affordable, high-quality housing in Portland’s urban core.
