PORTLAND, MAINE — Preservation of Affordable Housing (POAH) has closed on construction financing for Lambert Woods North, a 72-unit affordable housing development that will be built in the North Deering neighborhood. POAH acquired the wooded lot from the City of Portland through an RFP process. The one-, two- and three-bedroom units will be reserved for renters earning 60 percent of area median income. The Maine State Housing Authority is providing 4 percent Low-Income Housing Tax Credits as well as construction and permanent loans. The project also is backed by several other additional public and private funding sources.
Lambert Woods North will be comprised of six buildings designed to the U.S. Department of Energy’s Zero Energy Ready standard, which requires features such as high-performance windows, roofs that are prewired for solar panels, LED lighting and more. Additional project partners include Building Evolution (energy-efficiency consultant), Kaplan Thompson Architects, Penobscot (general contractor), Acorn Engineering and Aceto Landscape Architects. Site clearing has begun, and the project is slated for a spring 2027 completion.