Mission

Why does St. George need affordable housing?

In St. George, the high cost of homes and a shortage of year-round housing make it tough for local workers and businesses. This project aims to provide affordable rental and ownership options to help support our community’s economic stability and growth.

These are dwellings designed and priced for working families earning a moderate income. They are ideal for those who may otherwise struggle to rent or buy a home in our community due to high market prices.

For homeownership, The Community Development Corporation will own the land and build the homes, controlling construction costs and moderating future sale prices. This model ensures long-term affordability and prevents homes from being quickly flipped for a large profit. For rental properties, we do much the same, moderating monthly rent prices, keeping them affordable in the long term.

For rentals, applicants cannot make more than 80% of the Knox County Area Median Income (AMI). For home ownership, applicants can make a maximum of between 80% and 120% of AMI. We will then also give preference to families living or working in St. George, families contributing to local schools or employment sectors, and first-time homebuyers.

Our organization has a strong history of community involvement, from providing food assistance, dental clinics and hosting community events to enhancing local internet access. The non-profit is well-equipped to help deliver new workforce affordable housing options in St. George.

We will be soliciting funds through programs managed by Maine Housing Authority, the Genesis Community Loan Fund, with assistance from the Midcoast Council of Governments, public financing options, and private donations.

The property enters the “development” phase, with detailed surveying and conceptual design work starting through the remainder of 2024. When that work is complete, we will have identified development phases to execute over several years.