In a significant development aimed at addressing the critical housing shortage faced by its graduate students and staff, the University of New England (UNE) has finalized a full-building lease for Seavey Terraces, a 65-unit apartment complex in Westbrook, Maine. The nearly completed apartment complex, located at 35 Seavey St. and managed by LUX Residential, is on track to be ready for occupancy by January. UNE’s decision to lease this development is strategically planned with an eye towards alleviating the accommodation crisis that has affected student enrollments.
Seavey Terraces: A Collaborative Effort in Development
The Project’s Vision and Contributions
The Seavey Terraces project stands as a testament to a collaborative development effort led by New Ventures LLC and involves key contributors, including developers Jack Soley and builder Tim Hebert of Hebert Construction. The architectural design is credited to Simons Architects, while engineering expertise was provided by Thorton Tomasetti. Notably, TimberHP’s wood fiber insulation was employed in the development, underscoring the commitment to sustainable building practices. This marks the first phase of an ambitious three-phase venture projected to cost close to $50 million, with financing facilitated by Norway Savings Bank.
The thoughtful design and construction of Seavey Terraces cater to a pressing need for workforce housing in Westbrook, featuring a mix of studio to two-bedroom apartments. By targeting rental rates ranging from 100% to 120% of the area’s median income, the development aims to serve middle-income residents without being constrained by deed restrictions. This approach aligns with developer Jack Soley’s vision of offering affordable yet high-quality housing options. As a result, the new apartments are set to bridge the housing gap that has been a significant issue in the region.
Addressing Housing Needs and Ensuring Quality
The partnership with UNE brings a unique advantage to Seavey Terraces, allowing for lower rental rates due to the university’s commitment to guaranteed occupancy. This move not only secures quality housing for UNE’s community but also fortifies the development’s position as a valuable asset to the local workforce. Such collaborations emphasize the increasing importance of educational institutions in local housing markets, providing stability and ensuring higher living standards for residents.
The development of Seavey Terraces represents more than just an architectural accomplishment. It illustrates a practical solution to integrate community needs with institutional goals, creating a win-win scenario for both the university and the town of Westbrook. With state-of-the-art amenities and eco-friendly design components, Seavey Terraces promises to set a new benchmark for future residential projects in the area, reflecting a forward-thinking approach to urban development.
UNE’s Strategic Move and Future Plans
Proximity and Access to UNE’s Portland Campus
UNE’s pursuit of Seavey Terraces as a housing option is driven by a significant shortage of available and affordable accommodations near its Portland campus. This shortage has previously resulted in potential students refusing to enroll. The proximity of Seavey Terraces, located just over three miles from the UNE Portland campus, along with a new access drive to facilitate easier commuting, makes it a highly suitable housing solution. This strategic location ensures enhanced convenience for students, minimizing commute times and reducing transportation costs.
The lease is set to begin in May 2025, and its timing is crucial for UNE’s summer program preparations. Furthermore, the arrival of around 400 students transitioning to the Portland campus following the completion of the Harold and Bibby Alfond Center for Health Sciences—new home to UNE’s College of Osteopathic Medicine—warrants this timely and strategic housing solution. By ensuring an adequate and proximate housing option, UNE aims to enhance student retention and satisfaction, bolstering its recruitment efforts.
Management and Flexibility in Housing Options
In a significant move to tackle the severe housing shortage faced by its graduate students and staff, the University of New England (UNE) has secured a full-building lease for Seavey Terraces, a 65-unit apartment complex located in Westbrook, Maine. This nearly finished property, situated at 35 Seavey St. and managed by LUX Residential, is projected to be ready for occupancy by January. UNE’s decision to lease this building is a strategic effort to ease the accommodation crisis that has been impacting student enrollments.
The housing shortage has been a critical issue affecting many educational institutions, but UNE is taking proactive steps to address it by ensuring that ample housing is available for their community. This move is expected to enhance the student experience and success, as reliable housing is a key factor in student retention and satisfaction. By securing Seavey Terraces, UNE demonstrates its commitment to meeting the needs of its students and staff, thereby fostering a supportive and thriving academic environment.
