CLEARWATER BEND
Westbrook, Maine

CLEARWATER BEND
27 REED STREET
WESTBROOK, ME
PROPERTY OVERVIEW
Clearwater Bend is a 23-unit rental apartment community for working families. The site offers an in-town location, centrally located and within walking distance of shopping, schools, medical services, employment opportunities, and public transportation.
Originally a small horse pasture, the 7-acre vacant parcel which was left mostly green space, offers an in-town location, centrally located and within walking distance of shopping, schools, medical services, employment opportunities, and public transportation.
Much of the area is wooded; the housing was clustered to allow the wooded portion of the site to remain as open space, also providing a buffer for the surrounding established neighborhoods.
The project meets Maine’s guidelines for smart growth, and the State Planning Office supported development of the project.
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Size
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23 Units
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Unit mix:
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2-bedroom units: 15
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3-bedroom units: 8
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26,190 Square Feet
Target Population
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Families
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People at or below 50% area median income
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People at or below 60% area median income
Amenities
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Heat & Hot Water Included
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24 Hour Emergency Maintenance
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Resident Services Coordinator
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Individual Climate Control
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Energy Star® Appliances
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Onsite Professional Management
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Community Room
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Patio
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Playground
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Onsite Laundry
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Onsite Parking
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Trash Removal
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Professionally Landscaped Grounds
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Snow Removal
DEVELOPMENT SNAPSHOT
Construction Type
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New Construction
Financing
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9% Tax Credits
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Maine State Housing Authority
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Construction Lender: Camden National Bank
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Syndicator: Boston Capital Corporation
Development Cost
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$5.5 million
Year Completed
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Completion Date: 2007
Development Team
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Construction Manager-at-Risk: Benchmark Construction
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Architect: CWS Architects
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Property Manager: Preservation Management, Inc.