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Image of Casco Terrace
Image of Casco Terrace
Image of Casco Terrace
Image of Casco Terrace

Casco Terrace

41 State Street, Portland, ME 04101

Waiting List Forecast: Likely Short or None

check_circleVerified for 2021 by Colleen Carter, Ric Gresia
Rent Beds Baths SqFt
Call for Rents† 1 - 2 Beds 1 - 2 Baths -
Call (866) 294-8860

Waitlist Forecast

Since this property is a LIHTC property that might not have a project based rental assistance contract, it is likely that it either has no waiting list or the waiting list is shorter than properties with rental assistance. You should contact the property to verify.

Note: Affordable Housing Online has not confirmed the waiting list status directly with the property. This waiting list status forecast is based on our housing experts' knowledge of similar properties. You should always confirm this status directly with the property.

Casco Terrace was finished in June of 2004 and is considered one of the most desirable apartment complexes in Portland. Offering beautiful views of Casco Bay, these 1 and 2 bedroom units feature hardwood floors, on-site laundry and covered parking in a secure building. Rent includes heat, hot water and parking. Many of the units have sliding glass doors leading out to private balconies. The apartments are accessible by elevator.

Developers Nathan Szanton and Robert C.S. Monks foresaw the residential potential of this former 1-story parking garage, located just a half block from the Casco Bay Bridge and a five minute walk to the Old Port and downtown. So in 2004, atop the existing garage, they built Casco Terrace.

The architecture of Casco Terrace with the elements of red brick, balconies, lintels, and decorative metal railings is rich and gracious and in keeping with the beautiful historic buildings up and down the block. For more images, visit Archetype Architects.

Every apartment has its own covered, indoor secured parking space included in the rent. At the head of each parking space, also included in the rent, is a 4' x 8' floor-to-ceiling, lockable storage unit. 20 of the 27 apartments enjoy balconies.14 of the 16 two-bedroom apartments have a second full bathroom. Seven of the apartments have lofts with harbor views. Each of the three floors of housing has its own fully equipped laundry room.

Casco Terrace is convenient to downtown Portland, South Portland, Route 1, Interstate 295, and the Maine Turnpike.

Dave's Thoughts On Casco Terrace

This LIHTC property is among the most common types of affordable rental housing in the United States. The LIHTC program only provides subsidies to the building’s owner at construction. No subsidies are provided directly to the residents, but the owner must set rents affordable to low-income renters in the area. Our data suggests Casco Terrace does not participate in any project-based rent subsidy program. This means you must earn enough to pay the full rent or have your own Section 8 Housing Choice Voucher. For that reason, LIHTC properties tend to have shorter waiting lists or even none at all. LIHTC properties nationwide are required to accept housing vouchers. LIHTC properties were first built in the late 1980's. Because they tend to be newer, these properties are more likely to have larger units, more amenities, and greater tenant service offerings than other affordable housing programs. This property might be right for you if you have a housing voucher or enough income to pay rent, are looking for a high quality property, or need immediate availability. Since this property participates in the LIHTC program, the property is required to accept Section 8 Housing Choice Vouchers.

Dave, Founder AHO

~ Dave Layfield, Founder of Affordable Housing Online

Casco Terrace Amenities

  • Elevator
  • Close to Downtown District
  • Off-Street Parking
  • Handicapped Accessible
  • Dishwasher
  • Scenic View
  • Storage
  • Balconies or Patios Available
  • Heat and Hot Water Included
  • Near Bus Line
  • Intercom System
  • Smoke Free
  • Heat Included
  • On-Site Laundry

Units at Casco Terrace

Unit (Bd/Ba) Ft2 Rent
1 Bedroom (1/1) - Call for Price†
1 Bedroom Lofted (1/1) - Call for Price†
2 Bedroom (2/2) - Call for Price†

Income Qualification for Casco Terrace

*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.
AMI* 1 person 2 people 3 people 4 people
50% AMI for LIHTC Units $32,550 / year $37,200 / year $41,850 / year $46,450 / year
50% AMI for LIHTC Units $32,550 / year $37,200 / year $41,850 / year $46,450 / year
50% AMI for LIHTC Units $32,550 / year $37,200 / year $41,850 / year $46,450 / year
50% AMI for LIHTC Units $41,450 / year $47,350 / year $53,250 / year $59,150 / year
50% AMI for LIHTC Units $41,450 / year $47,350 / year $53,250 / year $59,150 / year
50% AMI for LIHTC Units $41,450 / year $47,350 / year $53,250 / year $59,150 / year
50% AMI for LIHTC Units $41,450 / year $47,350 / year $53,250 / year $59,150 / year
50% AMI for LIHTC Units $41,450 / year $47,350 / year $53,250 / year $59,150 / year
50% AMI for LIHTC Units $41,450 / year $47,350 / year $53,250 / year $59,150 / year
50% AMI for LIHTC Units $41,450 / year $47,350 / year $53,250 / year $59,150 / year
50% AMI for LIHTC Units $41,450 / year $47,350 / year $53,250 / year $59,150 / year
50% AMI for LIHTC Units $41,450 / year $47,350 / year $53,250 / year $59,150 / year
50% AMI for LIHTC Units $32,550 / year $37,200 / year $41,850 / year $46,450 / year
50% AMI for LIHTC Units $32,550 / year $37,200 / year $41,850 / year $46,450 / year
50% AMI for LIHTC Units $41,450 / year $47,350 / year $53,250 / year $59,150 / year
50% AMI for LIHTC Units $32,550 / year $37,200 / year $41,850 / year $46,450 / year
50% AMI for LIHTC Units $32,550 / year $37,200 / year $41,850 / year $46,450 / year
50% AMI for LIHTC Units $41,450 / year $47,350 / year $53,250 / year $59,150 / year
50% AMI for LIHTC Units $41,450 / year $47,350 / year $53,250 / year $59,150 / year
50% AMI for LIHTC Units $32,550 / year $37,200 / year $41,850 / year $46,450 / year
50% AMI for LIHTC Units $41,450 / year $47,350 / year $53,250 / year $59,150 / year
50% AMI for LIHTC Units $41,450 / year $47,350 / year $53,250 / year $59,150 / year
50% AMI for LIHTC Units $32,550 / year $37,200 / year $41,850 / year $46,450 / year
50% AMI for LIHTC Units $41,450 / year $47,350 / year $53,250 / year $59,150 / year
50% AMI for LIHTC Units $41,450 / year $47,350 / year $53,250 / year $59,150 / year
50% AMI for LIHTC Units $41,450 / year $47,350 / year $53,250 / year $59,150 / year
50% AMI for LIHTC Units $41,450 / year $47,350 / year $53,250 / year $59,150 / year
50% AMI for LIHTC Units $41,450 / year $47,350 / year $53,250 / year $59,150 / year
50% AMI for PBRA Units $32,550 / year $37,200 / year $41,850 / year $46,450 / year
50% AMI for PBRA Units $32,550 / year $37,200 / year $41,850 / year $46,450 / year
50% AMI for PBRA Units $32,550 / year $37,200 / year $41,850 / year $46,450 / year
50% AMI for PBRA Units $41,450 / year $47,350 / year $53,250 / year $59,150 / year
50% AMI for PBRA Units $41,450 / year $47,350 / year $53,250 / year $59,150 / year
50% AMI for PBRA Units $41,450 / year $47,350 / year $53,250 / year $59,150 / year
50% AMI for PBRA Units $41,450 / year $47,350 / year $53,250 / year $59,150 / year
50% AMI for PBRA Units $41,450 / year $47,350 / year $53,250 / year $59,150 / year
50% AMI for PBRA Units $41,450 / year $47,350 / year $53,250 / year $59,150 / year
50% AMI for PBRA Units $41,450 / year $47,350 / year $53,250 / year $59,150 / year
50% AMI for PBRA Units $41,450 / year $47,350 / year $53,250 / year $59,150 / year
50% AMI for PBRA Units $41,450 / year $47,350 / year $53,250 / year $59,150 / year
50% AMI for PBRA Units $32,550 / year $37,200 / year $41,850 / year $46,450 / year
50% AMI for PBRA Units $32,550 / year $37,200 / year $41,850 / year $46,450 / year
50% AMI for PBRA Units $41,450 / year $47,350 / year $53,250 / year $59,150 / year
50% AMI for PBRA Units $32,550 / year $37,200 / year $41,850 / year $46,450 / year
50% AMI for PBRA Units $32,550 / year $37,200 / year $41,850 / year $46,450 / year
50% AMI for PBRA Units $41,450 / year $47,350 / year $53,250 / year $59,150 / year
50% AMI for PBRA Units $41,450 / year $47,350 / year $53,250 / year $59,150 / year
50% AMI for PBRA Units $32,550 / year $37,200 / year $41,850 / year $46,450 / year
50% AMI for PBRA Units $41,450 / year $47,350 / year $53,250 / year $59,150 / year
50% AMI for PBRA Units $41,450 / year $47,350 / year $53,250 / year $59,150 / year
50% AMI for PBRA Units $32,550 / year $37,200 / year $41,850 / year $46,450 / year
50% AMI for PBRA Units $41,450 / year $47,350 / year $53,250 / year $59,150 / year
50% AMI for PBRA Units $41,450 / year $47,350 / year $53,250 / year $59,150 / year
50% AMI for PBRA Units $41,450 / year $47,350 / year $53,250 / year $59,150 / year
50% AMI for PBRA Units $41,450 / year $47,350 / year $53,250 / year $59,150 / year
50% AMI for PBRA Units $41,450 / year $47,350 / year $53,250 / year $59,150 / year
60% AMI for LIHTC Units $39,060 / year $44,640 / year $50,220 / year $55,740 / year
60% AMI for LIHTC Units $39,060 / year $44,640 / year $50,220 / year $55,740 / year
60% AMI for LIHTC Units $39,060 / year $44,640 / year $50,220 / year $55,740 / year
60% AMI for LIHTC Units $49,740 / year $56,820 / year $63,900 / year $70,980 / year
60% AMI for LIHTC Units $49,740 / year $56,820 / year $63,900 / year $70,980 / year
60% AMI for LIHTC Units $49,740 / year $56,820 / year $63,900 / year $70,980 / year
60% AMI for LIHTC Units $49,740 / year $56,820 / year $63,900 / year $70,980 / year
60% AMI for LIHTC Units $49,740 / year $56,820 / year $63,900 / year $70,980 / year
60% AMI for LIHTC Units $49,740 / year $56,820 / year $63,900 / year $70,980 / year
60% AMI for LIHTC Units $49,740 / year $56,820 / year $63,900 / year $70,980 / year
60% AMI for LIHTC Units $49,740 / year $56,820 / year $63,900 / year $70,980 / year
60% AMI for LIHTC Units $49,740 / year $56,820 / year $63,900 / year $70,980 / year
60% AMI for LIHTC Units $39,060 / year $44,640 / year $50,220 / year $55,740 / year
60% AMI for LIHTC Units $39,060 / year $44,640 / year $50,220 / year $55,740 / year
60% AMI for LIHTC Units $49,740 / year $56,820 / year $63,900 / year $70,980 / year
60% AMI for LIHTC Units $39,060 / year $44,640 / year $50,220 / year $55,740 / year
60% AMI for LIHTC Units $39,060 / year $44,640 / year $50,220 / year $55,740 / year
60% AMI for LIHTC Units $49,740 / year $56,820 / year $63,900 / year $70,980 / year
60% AMI for LIHTC Units $49,740 / year $56,820 / year $63,900 / year $70,980 / year
60% AMI for LIHTC Units $39,060 / year $44,640 / year $50,220 / year $55,740 / year
60% AMI for LIHTC Units $49,740 / year $56,820 / year $63,900 / year $70,980 / year
60% AMI for LIHTC Units $49,740 / year $56,820 / year $63,900 / year $70,980 / year
60% AMI for LIHTC Units $39,060 / year $44,640 / year $50,220 / year $55,740 / year
60% AMI for LIHTC Units $49,740 / year $56,820 / year $63,900 / year $70,980 / year
60% AMI for LIHTC Units $49,740 / year $56,820 / year $63,900 / year $70,980 / year
60% AMI for LIHTC Units $49,740 / year $56,820 / year $63,900 / year $70,980 / year
60% AMI for LIHTC Units $49,740 / year $56,820 / year $63,900 / year $70,980 / year
60% AMI for LIHTC Units $49,740 / year $56,820 / year $63,900 / year $70,980 / year

*AMI: Area Median Income. Renters qualify for different housing programs if their income is below a specified percentage of AMI.

FAQs for Casco Terrace

Does Casco Terrace have a waiting list?

Casco Terrace probably doesn't have a waiting list, and, if it does, the wait times are most likely short. We haven't confirmed if this is the case, so you should contact the property to confirm.

Are rents subsidized at Casco Terrace?

We believe rents are most likely NOT subsidized at any of the units at this property since our research has not discovered any public housing or rental assistance contracts associated with this property. This means you will most likely have to pay the full rent no matter your income. Note: In some rare instances, some properties may have a small number of units subsidized through state or private programs.

What property management company manges Casco Terrace?

Casco Terrace is managed by Saco Falls Management headquartered in Portland, Maine.

In addition to Casco Terrace, how many other affordable housing properties (and units) are there in Portland?

In addition to Casco Terrace, we list 57 other affordable properties in Portland. Learn about these properties here. Our data research shows that there are a total of 3483 affordable units in Portland.

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† Rent observations may change. We encourage users to verify rents and eligiblity requirements directly with the property.