After a slow start due to heavy spring rains, major renovations are moving ahead in Millinocket at 100 Katahdin Avenue, the sixth residential building the Center purchased through its initial Millinocket Housing Initiative Fund to create quality homes for people who want to make a future in Millinocket.
The Millinocket Housing Initiative Fund is the Center’s first social and economic investment fund, created to enable the Center to address critical housing needs in downtown Millinocket as part of a larger and community revitalization effort. The Center fully capitalized the $1-million fund in March with investments from individuals and foundations that want to make impact investments to advance the revitalization of rural communities. Due to the fund’s success, the Center is now planning a second fund to continue rehabilitating properties to attract businesses and residents to town.
McLaughlin Builders of Medway, Maine, is heading up reconstruction of the once-grand but badly run down building at 100 Katahdin Avenue that sits on Veteran’s Park within an easy walk of downtown stores, the elementary school and the library.
Renovations have included removing a portion of the roof to open up space for a complete rebuild in the rear of the building. In June, as soon as it was dry enough, contractors poured a new cement basement to give the house a proper foundation that can support a slate of exterior and interior improvements later this summer. A new roof, shingles, siding, and other finishing touches will help fully weatherize the building. Interior improvements include removing a non-functioning chimney, leveling the floors, reconfiguring the layout from five apartments to three, installing wiring, and finishing the interior space. The project is expected to be done by the end of summer.
The first five buildings the Center purchased and renovated through the Millinocket Housing Initiative are fully occupied by tenants.