July 13, 2015
A Grand Opening Ceremony will take place on July 28th in Augusta, Maine to celebrate a new life for the Cony Flatiron Building. The project addresses a need for Senior Affordable housing in the area be creating 48 senior LIHTC units.
Originally constructed in the 1920s to house Cony High School, the building closed in 2006 when a new high school facility was constructed. The vacant building attracted the attention of a local developer who organized the financing to convert the historic building into affordable senior housing. The building is of considerable historic and community importance, many local residents went to high school in the Cony Flatiron Building and have strong sentimental ties to it.
In partnership with NDC Corporate Equity Fund and Housing Initiatives of New England Corporation, the rehabilitation was funded with tax credits from federal LIHTC Program awarded by the Maine State Housing Authority. The project also received a Community Development Block Grant and grant money from the Federal Home Loan bank of San Francisco.