Penquis Housing Inc.

Penquis Housing Inc. is a for-profit corporation and wholly owned subsidiary of Penquis. It was established to promote community housing development. This Penquis company's primary functions are to seek out and acquire funding to develop affordable housing partnerships. The developments of these projects are created with the use of Low Income Housing Tax Credits and other inventive financing mechanisms. Penquis Housing Inc. acts as a conduit for owner/contractors and funding sources. Both private ownership and rental housing developments are contained in this corporation. Private ownership (work force and market) developments consist of affordable, residential subdivisions, while rental housing consists of multi-units for families, seniors and special needs populations.

All developments are designed by considering the:

● People that will occupy them
● Need of the area
● Immediate resources
● Formations of partnerships with government and nonprofits
● Funding sources available
● Nearby land use, natural resources, and environment

Projects completed by Penquis Housing, Inc. include the following:

Northside Family Housing - Bangor

Northside Family Housing is 28 stylish affordable rental units of townhouse and ranch design with six units specifically designed for handicap accessibility. These smart units are well situated near schools, bus route and shopping, making it a very convenient, attractive and comfortable place to live.

One Flagg Place - Veazie

One Flagg Place is being constructed with the invaluable assistance of the community of Veazie. These 24 subsidized senior rental units are located adjacent to Graham School Senior Housing. The design of these attractive units is similar and complementary to the existing Graham School Senior Housing.

For more information, call Stephen B. Mooers, Chief Executive Officer of Penquis Housing, Inc., at 207-973-3551 or 1-800-215-4942.

Funding is provided by Low Income Housing Tax Credits / MaineHousing.