GreenMars Real Estate is set to submit an application to the City of Portland for the construction of “Deering Village,” a new community comprising 90 condominiums and 18 accessory dwelling units (ADUs) at 410-418 Auburn Street. The project aims to provide affordable housing, with 50% of the 90 units designated as affordable residences. A community meeting to discuss the project is scheduled for tonight at 6 p.m. at the Allen Avenue Universalist Church, located at 524 Allen Avenue in Portland.
Project Details and Location
Deering Village is planned for a 4.21-acre parcel of undeveloped land and will feature a mix of studio, one-, two-, and three-bedroom condos across nine buildings. Each building will include two ADUs, which can serve as rental units or private suites. The development will offer amenities such as walking trails connecting to North Deering Park, a nearby 24-acre park that includes a sports field, pond, and wooded areas. The site is close to public transportation and fits within the existing neighborhood, which includes residential homes, businesses, and medical offices. The project will provide a total of 152 parking spaces. GreenMars intends to file the building application after the community meeting on September 10.
Purpose and Vision of the Project
Nate Green, co-founder of GreenMars Real Estate, emphasized the importance of providing more affordable housing options in Portland. “We need housing in Portland, and we desperately need housing that’s affordable,” Green stated. “Deering Village is designed to make homeownership more accessible by offering a community that is 50% affordable, enabling more Mainers to become homeowners and, in some cases, offset their mortgage payments with rental income.”
Legislative Context and Previous Projects
The Deering Village project is supported by LD2003, a piece of legislation intended to expand housing opportunities in Maine. Earlier this year, GreenMars launched its first LD2003 project, Stroudwater Commons, which is also a 90-unit, 18-ADU community at 1877 Congress Street in Portland. Like Deering Village, half of the units in Stroudwater Commons are designated as affordable. The community includes a range of studio, one-, two-, and three-bedroom condos, and offers proximity to the Portland Jetport, public transportation, and nearby amenities such as schools, businesses, and parks.
Chris Marshall, another co-founder of GreenMars Real Estate, described both Deering Village and Stroudwater Commons as among the first large-scale LD2003 projects in Maine. “Through LD2003, the state has created a valuable tool to address Maine’s housing crisis,” Marshall noted. “We’re focusing on building communities where they are needed and welcomed, providing affordable homeownership opportunities to those priced out of the market.”
Developer Background and Community Involvement
GreenMars Real Estate was founded by Nate Green and Chris Marshall, childhood friends from Southern Maine, who are committed to developing affordable housing solutions. The construction of Deering Village will involve several local businesses, including GreenMars Engineering, Acadia Realty Partners, Barton and Loguidice, Drummond Woodson, BH2M, Invivid Architecture, and McFadden Environmental.
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By Proptechbuzz
By Ravi Kumar
