Everyone deserves a place to call home.

New Avesta program gives first-time homebuyers 'A Path Forward'

Older homes are rehabbed and sold below market value

Tackling the affordable housing shortage requires a myriad of creative solutions. Building new affordable homes is essential, but multi-family developments can take years to complete. Meanwhile, thousands of houses in Maine sit vacant due to abandonment, foreclosure, or other reasons.

A new Avesta Housing program is an innovative tool to address the housing crisis while helping moderate-income Maine residents realize their dream of owning their first homes. Through A Path Forward – Homeownership for ME, Avesta acquires and rehabilitates properties that are in disrepair, then sells them at below-market prices to qualifying households. Sale proceeds are used to help fund the next home acquisition and rehab, providing a strategic reinvestment for years to come.

The properties also utilize a shared equity model that benefits both current and future homeowners. This model ensures that the homes retain affordability in perpetuity while granting individuals and families the ability to build financial wealth — a key component to providing housing stability to future generations.

“Maine has some of the oldest housing stock in the country, and many of these existing homes sit vacant and in disrepair. Meanwhile, real estate prices continue to hit record levels. First-time homebuyers are faced with the choice of delaying purchasing a home indefinitely or settling for homes that need a lot of work,” said Avesta Housing HomeOwnership Center Director Nicole DiGeronimo. “A Path Forward provides a way for them to buy high-quality homes without incurring unsustainable mortgage or home-improvement costs.”

Avesta Housing HomeOwnership Center Director Nicole DiGeronimo

A three-bedroom house in Gray is currently undergoing extensive renovations as the first Path Forward home, and we anticipate opening the application process for that property this spring. We have received generous contributions from Bangor Savings Bank, Mascoma Bank Foundation, and Machias Savings Bank to help launch this exciting new program, and are actively pursuing additional funds.

We can't do this without you.

Photo by Doug Bruns

Everyone deserves a place to call home.

Your gift to Avesta Housing this season means that people in our communities can live their best lives because they have a safe, affordable home.

Senior staff meets with Sen. King to discuss affordable housing

L-R: President & CEO Rebecca Hatfield, Resident Services Manager Nick Kjeldgaard, Sen. Angus King, Director of Real Estate Development Patrick Hess, HomeOwnership Center Director Nicole DiGeronimo, Senior Vice President of Finance & Administration Eric Boucher. and Vice President of Property Management & Resident Services Amanda Gilliam 

Earlier this month, Avesta had the honor of hosting U.S. Sen. Angus King (I-Maine) for a roundtable discussion on affordable housing at Porter Station, our newest affordable housing development in Portland. The hour-long discussion focused on identifying challenges to providing affordable housing and exploring possible solutions, including bipartisan legislation in Congress co-sponsored by Sen. King such as the Tax Relief for American Families and Workers Act and the Farmhouse-to-Workforce Housing Act.

Avesta Housing is committed to advocating for policies and legislation at all levels of government that promote and provide for the creation of safe, quality, affordable homes and housing stability for all people in need. Click below to read more.

Staff Profile: Shayne McDonald

Since joining Avesta Housing as a maintenance tech in April 2023, Shayne McDonald has established himself as an exemplary employee. His work ethic, positive outlook, and willingness to help wherever needed resulted in a promotion to Maintenance Technician II this past August, and he was named one of four Core Values Award winners in October.

A native of Casco, Maine, Shayne says he was almost predestined to work for Avesta — his father was a maintenance tech for Portland Housing Authority and his mother once worked for The Opportunity Alliance on the site of what is now Deering Place, an Avesta affordable housing campus in Portland. He is responsible for maintenance at our Portland office and our South Portland warehouse, as well as at other properties as needed.

Shayne says his biggest job satisfaction is helping others, be they coworkers or residents. “I feel most useful and impactful when I am able to make someone else’s day a bit easier and less stressful,” he said. Above all, he feels that he’s making a difference by working for Avesta.

“We all deserve a safe place to live and rest our heads at night,” he said. “When we have that, we are able to contribute to society and start helping others, which in turn improves living conditions for all.”

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