Penquis marks construction progress on 40-unit Milford Place in Bangor

Penquis will hold a construction celebration April 17 at Milford Place, a 40-unit, $15 million affordable housing project for older adults in Bangor; construction is underway and eight units will be filled through referrals from the Bangor Area Homeless Shelter.

Penquis will host a construction celebration on April 17 at Milford Place, a new 40-unit affordable housing development for older adults in Bangor. Construction is currently underway on the $15 million project. The development responds to growing local and national demand for housing options that support stability for older adults. Penquis is the developer and owner and has partnered with public and private funders to advance the work. Key details: - Penquis will hold the construction celebration April 17 at Milford Place in Bangor. - Milford Place will include 40 affordable units designed for older adults and has an estimated cost of $15 million. - Eight units will be filled through referral connections with the Bangor Area Homeless Shelter to expand access to stable housing. - Funding and financing partners listed for the project include MaineHousing, Evernorth, Bangor Savings Bank, the Federal Home Loan Bank of Boston (through its Affordable Housing Program), Penobscot County and the City of Bangor. - The development team includes Dunbar and Brawn Construction, TAC Architectural Group and Carpenter Associates, and Penquis will own the property. Summary: The development is intended to expand access to stable housing for older adults in the Bangor region amid rising need. The next public milestone is the April 17 construction celebration, which will bring together community partners, elected officials and project stakeholders. Construction remains underway.