Portage Lake Housing Corp. moving ahead with senior housing project

14 years ago

Portage Lake Housing Corp.

moving ahead with

senior housing project

PORTAGE LAKE – The Portage Lake Housing Corp. (PLHC) is moving forward with its plans to build senior housing in its downtown and continues to investigate funding and update specification for the project.

The corporation is currently working on filing a USDA Rural Development Section 515 Loan application, along with exploring other funding options for the planned six-unit complex, which will provide affordable housing for elderly, low-income or disabled residents.

Other planned financing activities include applying for rental and initial operating subsidies, which will lower the rental payments for its occupants. The complex will be located within walking distance of the amenities within the Portage downtown area and will be serviced by the Aroostook Regional Transportation System (ARTS) for transportation for out-of-town appointments. If successful in obtaining funding for the project, the housing is expected to be completed and ready for occupancy in the fall of 2012.

The PLHC committee members will help “spread the word” about the project by making presentations to various local civic and community groups throughout the winter and spring.

“We feel that there is a great need for this project locally and are committed to bringing this project to fruition for the benefit of our residents,” said PLHC Chair Raymond Cyr. “We have lost many of our former residents and continue to be in danger of losing more of our long-time residents who can no longer afford to live here because of the unavailability of affordable housing options.

“The Portage Lake Senior Housing Project will allow many of them to stay in the area,” he said.

Interviews with interested residents will be conducted after the first of the year to pre-qualify them and strengthen the funding applications. For more information, please contact Cyr at 435-6709 or any PLHC committee member.