The Company:
Forest Village Condominium North LLC, a Maine limited liability company (the “Company”) will develop and market approximately 44 elderly and affordable condominiums in Wells, Maine.
Twenty per cent (20%) of the condominium units are restricted in perpetuity to families whose head of household or spouse is 50 years or older
and the remaining 80% to those over 55. Twenty percent (20%) of the units must be sold at an “affordable” price as determined by Town of Wells' ordinance 175.
Project Description:
The planned “Over 50” will be constructed, over a
3-7 year period, on approximately 21 acres located on the west side of US 1, approximately 1/2 mile north of Route 109 in Wells, Maine. The condominium homes will be constructed in duplex cape-styled buildings. Each home has two levels containing 2 or 3 bedrooms, 2 1/2 baths plus study/den loft, single-car garage, 5 or 8 foot high basement and 14 X 16 ft deck. A variety of options are offered including granite counter tops, gas fireplace, hardwood flooring, air conditioning, screen porch or 4-season room, and, on selected units, a walk-out basement and two-car garage.