Adaptive reuse of a former convent into a 28-unit development. Reserved for senior households earning 60% or less of the AMI. Amenities include a library, laundry, and community rooms as well as 2,276 square feet of public-use space. Building dates back to 1912.
Project Size: 1-29 Units
Completed: 2020
Cost: $5400000
Location: Waterville, ME
Affordable Housing and Shelter on Faith Land Database
Merici Woods
Project & Congregation Details
Congregation Information
House of Worship: Mt. Merici Convent
Denomination: Catholic
Leadership: Waterville Housing Authority and Merici Woods LP
Location Information
State: ME
City: Waterville
Geography: Suburban
Project Information
Approval: 2018
Completed: 2020
Cost: $5400000
Developer: MERICI WOODS LP
Architect: Archetype Architects
Land: Sold
Housing Type: Affordable Rental
Funding
Local
City of Waterville created Merici Woods Senior Affordable Housing Tax Increment Financing District, for 30 years (2018-2038), 75% of the District TIF revenues will be used to pay operating costs of the project
State
State Rehabilitation Tax Credits
Federal
Low-Income Housing Tax Credits; Federal Rehabilitation Tax Credits
Other
$750,000 direct subsidy from Camden National Bank;