More Than 350 Apartments in the Works as Waterville, Maine Faces Ongoing Housing Shortage

When it comes to housing across the state of Maine, many communities find themselves in similar situations. And, of course, that situation is unequivocally the need for many more affordable housing units.

According to the Kennebec Journal, housing development is accelerating across Waterville, with more than 350 apartments currently under construction or in advanced planning stages. Even so, local officials say it is still not enough to meet demand.

City leaders and economic development officials describe the shortage as severe. Waterville has experienced steady economic and population growth in recent years, increasing pressure on an already tight housing market, The KJ reported.

A 2020 housing study estimated a potential market of more than 2,000 households per year for new and existing units over a five-year span. Officials believe those projections were conservative and that the need has only grown. Current estimates suggest between 1,080 and 2,000 additional housing units may be needed by 2030.

Several major projects are underway. A 37-unit affordable housing complex on King Street is about 40 percent complete and expected to offer one-, two-, and three-bedroom apartments for renters earning 50 to 60 percent of area median income. Meanwhile, redevelopment of the former Lockwood Mill is bringing 65 apartments to downtown, with some units already occupied.

Additional projects include a proposed 63-unit Head of Falls Village development awaiting financing, a 33-unit Manor Gardens expansion on College Avenue, and a 40-unit Washington Street complex now under construction.

City officials say Waterville needs housing of all types, including more owner-occupied homes, to support continued growth and strengthen the community’s future.