Lockwood Mill I

6 Water Street, Waterville, Maine 04901

This building has been approved for redevelopment and is expected to start undergoing reconstruction in the Fall of 2020.

This project has been funded and will begin construction soon.

Funded, expected to being reconstruction in 2020.

Lockwood Mill I Details

  • 47 bedroom units.
  • Low-Income Housing Tax Credit (LIHTC)

Low-Income Housing Tax Credit (LIHTC)

Since this property has received funding in part through the Low Income Housing Tax Credit (LIHTC) program, a certain number of units are set aside for lower income households. Households must earn either less than 50% or 60% of the area median income (depending on the set-aside option chosen by the property owner) to qualify for these units. Rents in these units are capped at a maximum of 30% of the set-aside area median income (adjusted for unit size). Some rental units in this property may not be subject to LIHTC and therefore have higher rents and no maximum household income requirement.

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