Former Navy McKeen Street Housing Closing in on 100 Sales

Dave Gleason of Coldwell Banker gave us an update on sales of the former Navy housing at McKeen Street Landing. Gleason has now sold almost 100 single-family homes in the McKeen Street area, which is about three miles west of Brunswick Landing and was built for military families in the 1950s and 60s. George Schott of Affordable Midcoast Housing purchased the properties from the Navy in 2010. Schott is selling off some of the stock and renting other homes. Sales have been stronger than expected and have not had a negative impact on the local real estate market as some feared would happen when the Navy left.

Dave’s statistics are quite telling and are in line with the housing strategy that was developed early on in the reuse process. More than half the homes have been sold to first-time home buyers. Three quarters of them have been sold to those with affordable home incomes.

 

Total Number of Units

96

Percent

First Time Home Buyer

53

55%

Family Size – Single 33

34%

Family Size – Couple

37

39%

Families w/Children 17

23%

Investors

4

   4%
Affordable Household Income (< $80,520) Family

74

77%

Previous Address:  Brunswick/Topsham/Bath/Freeport

58

60%

                               < 30 mi. Portland, Gardiner, Durham, Augusta

15

16%

                               > 30 mi. Poland, Standish, Biddeford

11

 11%

           Out of State:                Fla, PA, MA 12  13%
Employers: BIW, Town of Brunswick, SAD 75, L. L. Bean, Bowdoin College, Sappi, Unum, MRRA, Bodwell Motors, USCG, real estate, healthcare, retail, construction, restaurants, hotels, churches, banks,etc.
 
Sales Pending with Contracts in Phase II & III  2

Meeting Minutes

See a complete list of meeting minutes for board meetings and special meetings back to January 2008.