On May 22 Islesboro Affordable Property (IAP) held a groundbreaking ceremony for its newest home. Located at 467 Pendleton Point Road, north of Dark Harbor Village, the home will be the first property built by IAP since the completion of the Ruthie James Subdivision in 1995.
“We are excited about this new housing opportunity for the island,” said Steve Miller, Co-Chair of the IAP Board of Directors “The new home is much needed, will be a pleasing addition to the Dark Harbor Village neighborhood, and is part of IAP’s commitment to helping maintaining a viable, year-round community.”
The home will be available for rental, with a possible future option to buy, to individuals and families who meet requirements established by IAP, based in part on U.S. Census data and the Department of Housing and Urban Development (HUD). Eligibility guidelines and an application for prospective tenants can be obtained through the IAP office.
The three-bedroom cape style home is being built on a lot purchased from the Town of Islesboro in 2002. IAP raised the funds needed to both purchase the property and subsidize a portion of the construction costs. Camden National Bank has provided additional financing. The home is being constructed by St. Alban’s Homes of Belfast and is scheduled to be delivered to the island in July. Local contractors, Coombs Excavating, Seaside Electrical Service and Johnny Z Plumbing and Heating will complete the subcontracting work of excavation, supplemental wiring, and plumbing and heating systems. IAP plans to have the home occupied by September 1.
Islesboro Affordable Property was founded in 1988 for the purpose of providing the town of Islesboro affordable housing options suitable for the low and moderate-income level residents.
For IAP’s Eligibility guidelines and an application for prospective tenants, contact Craig Olson at the IAP office at 734-2299 or iap@midcoast.com.