09/27/20 Moosehead Lake EDC to build new homes in Greenville

GREENVILLE— The Moosehead Lake Economic Development Corporation has acquired a 5.5 acre parcel on Spruce Street in Greenville for the purpose of developing approximately 20 homes for purchase by local residents. Recognizing that affordably priced housing for the workforce is a critical element to supporting the economic growth in our Region, the Moosehead Lake EDC made the decision to acquire the property and to seek a development partner to help address this need. Based upon our assessments, there is a significant shortage of affordably priced homes for people who work in our community. The subject property on Spruce Street was originally acquired by Coastal Enterprises, Inc. as part of the Plum Creek Development Plan project.  Subsequently, they received approval by the Town of Greenville for a 17 lot subdivision with the intent of creating workforce housing.  However, due to several factors, including the economic slowdown, they were unable to make that plan work.  As a local entity, the Moosehead Lake EDC is in a much better position to realize this original vision. The next step is to secure a qualified development partner who can help us build a very nice new neighborhood in Greenville, with homes that can be affordably purchased by local residents.  This project is not intended for vacation homes or seasonal rentals. To keep these units affordably priced, we plan to work with the Maine State Housing Authority and others to facilitate infrastructure improvements, as well as the availability of low interest rate home loans.  Because the original subdivision plan is now over ten years old, we will also need to renew that process. For additional information contact Steve Levesque at 207- 841-9955.