.

Northern New England Housing Investment Fund
Loring House – Portland, Maine

Loring House, developed by the Wishcamper Companies, is a 104-unit Rental Assistance Demonstration (RAD) conversion completed in 2017 in Portland, Maine. Loring House has a fascinating history. The building was originally established as an alms house, who’s purpose was to care for the City’s poor, elderly and mentally disabled, in Portland in the early 1800’s. It then became a hospital in 1870 and eventually evolved into a housing community for people living with disabilities and aged 62 years or older. The 17-million-dollar RAD conversion included 4 percent Low-Income Housing tax credits and State Historical tax credits. The renovation brought new life into the building, adding more light, upgraded living areas, system upgrades and enhanced community spaces. Renovation details include energy star window, new appliances, cabinets and counter tops in kitchen; new doors and flooring; new paint and the replacement of various dated system components. Enhancements include a garden walking and sitting area in a secluded area behind the building, and a Telemedicine Room which is a space where residents can communicate either directly or remotely with their nurses’ primary care physicians or specialized doctors.

NNEHIF’s Community Capital Funds 14, 15 and 16 provided $6 million in equity, with $1.8 million provided through state tax credits. Additional financing in the form of hard and soft debt from Maine Housing and the City of Portland rounded out the funding for Loring House.