With its 2012 allocation of LIHTCs, the Houlton Band of Maliseet Indians focused on rehabilitating units in its existing housing stock. The 28 units selected for rehab were built in the early 1990s and were in need of substantial rehabilitation. The exteriors received new roofs, windows and doors. The interiors were refurbished with new floorings, fixtures, finishes and energy-efficient appliances. Units will be rented to households with annual incomes of up to 50 percent and 60 percent of Area Median Household Income.
The homes are in the town of Houlton, ME, in Aroostook County on the Houlton Band of Maliseet Indians Reservation in Maine. The project is a combination of single family and duplex units, all located on the same site within the same subdivision. The development will consist of 12 two-bedroom units, 15 three-bedroom units, and one four-bedroom unit after improvements are complete.
In addition to the houses, the project also includes an onsite recreational area with computers and Internet access. Areas for activity were also built, including a playground, community garden plots and a bike trail within a half mile of the site.
Alden Capital Partners is the investor for this project.
- Native Organization: Houlton Band of Maliseet Indians Housing Authority
- Date Closed with Investor: 2014
- Date Completed: 2015
- Development Type: Rehab
- Project Status: Complete
- Total Homes: 28
- Total Project Cost: $4,704,036
- Total Investor Equity: $3,410,555
- Total Grant Money: $250,000