Avesta Housing Marks Construction Milestone for 201-Unit Affordable Housing Project
New England Council member Avesta Housing recently marked a construction milestone for The Bellwether, a 201-unit affordable housing project under construction in Portland’s Bayside area. The $88 million development is expected to open in the Summer of 2027 and will provide studio, one-, and two-bedroom apartments for individuals and families earning 60% or less of the area’s median income.
The project’s recent topping off ceremony marked the placement of a ceremonial metal beam at the top of the building. Avesta estimates the building will provide housing for at least 300 people. The project received more than $20 million in American Recovery Plan funding secured with the help of state legislators, while MaineHousing helped finance the development.
Jennifer Hawkins, president and CEO of Avesta Housing, said The Bellwether is the largest affordable housing project in the organization’s history. “Usually we’re developing projects (that are) 50 and 60 units, but 201 new gorgeous apartments for low-income Portland residents is a huge accomplishment for the organization,” Hawkins said.
Hawkins noted that a 2023 MaineHousing report estimated the state would need to construct 84,000 new housing units by 2030 to keep up with growing demand. The New England Council commends Avesta Housing for advancing a significant affordable housing development in Portland and helping address the state’s growing need for housing.
Read more: 200-unit affordable housing project coming to Portland