A major investment from MaineHousing’s Affordable Homeownership Program (AHOP), along with substantial local support, is helping bring 20 new condominiums to Boothbay—eight of which are directly funded through AHOP’s latest round of subsidies.

This development, spearheaded by the Boothbay Region Development Corporation (BRDC), will feature modularly constructed homes that are designed for long-term affordability and energy efficiency. The project reflects a unique public-private partnership model: in addition to the MaineHousing grant and a grant from the Federal Home Loan Bank of Boston, BRDC has raised nearly $3.5 million in private donations to support the full 20-home build-out and contribute to the utility project completed earlier in 2025.

“These homes are a huge step forward for working families and others seeking attainable homeownership in Boothbay,” said BRDC President Steve Malcom. “They demonstrate what’s possible when local initiative meets state support—we’re thrilled to see this community-driven project take shape.”

The homes are being built with a strong focus on low cost of ownership. Each unit will feature:

· Efficient electric heat pumps for year-round heating and cooling

· An individual energy recovery ventilator (ERV) to ensure healthy indoor air quality

· Insulation that exceeds standard building codes, reducing energy costs over the long term

This emphasis on energy efficiency not only improves sustainability but also enhances affordability by significantly reducing utility costs for homeowners. Homeowners will also benefit from public water and sewer thanks to a previously completed utility project funded in part with $1.5 million in Tax Increment Financing and $50,000 in ARPA funds from the Town of Boothbay, and $300,000 in ARPA funds from Lincoln County’s.

The Boothbay development is part of a broader AHOP funding initiative that will support 169 new homes across Maine, including projects in Portland, Falmouth, Bangor, Waterville, Rumford, Rockland, Monmouth, Kennebunkport, and Sanford. In total, MaineHousing has awarded $9.3 million in this latest round, adding to the nearly $20 million invested in AHOP since its launch in 2023. That investment is projected to generate over $100 million in statewide economic activity.

“This program has made home ownership possible for hundreds of Maine people, from families buying their first house to retirees looking to downsize while remaining in the communities they love,” said Greg Payne, senior housing advisor in the Governor’s Office of Policy Innovation and the Future. “This adds to Maine’s housing supply while bolstering local economies, as part of Governor Mills’ commitment to address the housing crunch in partnership with the Maine Legislature.”

As home prices continue to rise across the state, AHOP offers a vital counterbalance—providing forgivable loans to builders who commit to selling homes at prices affordable to households earning up to 120 percent of the area median income. For a family of three, this means an annual household income between $64,000 and $106,560.

With strong community backing and an intentional design focus, the Boothbay project stands out as a leading example of how Maine communities can expand homeownership for the workforce while building energy-efficient, high-quality housing for the future.

McConnell is a consultant for the Boothbay Region Development Corp.