Affordable Homeownership - Kennebunkport, ME
Workforce Housing Finds Tremendous Demand
“Workforce housing” enables teachers, police officers, firefighters, health care workers, and more to live close to their jobs.
Shorter commutes give workers more time to take care of themselves, their families, and their communities, while economic and environmental advantages result from people not driving long distances.
In Kennebunkport, Maine, two projects saw Genesis working with the Kennebunkport Heritage Housing Trust to ensure affordable homeownership for workers and their families.
First came our loan for predevelopment and infrastructure costs to construct six single-family homes near the center of Kennebunkport’s Cape Porpoise neighborhood—providing ownership opportunities where housing prices are typically beyond reach for many families.
The next year, Genesis financing helped build the Heritage Woods subdivision of single-family and duplex homes in a “modern farmhouse” style with three bedrooms. Unsurprisingly, intense demand sold them fast to year-round residents.