WORKFORCE HOUSING

Workforce Housing & Deed Restrictions

Our mission at The Goodwin is to provide high quality homes that a middle-income Portland-area household or worker can afford. Today, this is sometimes referred to as Workforce Housing.

What does Workforce Housing mean at The Goodwin?

Conventional Units

The majority of condominiums at The Goodwin are simply priced at levels that are generally affordable to Portland households earning around, or moderately above, the median income level for Cumberland County. These units have no income or deed restrictions at the time of first sale, or at any time of re-sale in the future.

Portland Workforce Housing Units

Some condominiums at The Goodwin are part of the City of Portland’s Inclusionary Zoning program. These units are called Workforce Units and have two primary restrictions; i) eligible buyers are qualified based on household income and ii) a maximum sales price is set by a formula administered by the City of Portland. Both the qualified household income level and maximum sales price adjusts annually based on changes to median income levels for the Portland Metropolitan Area.

The restrictions on Workforce Units remain in place for future re-sale for either 10 years or 30 years, depending on the unit. Once a deed restriction expires, a Workforce Unit may be sold at the prevailing market price to any perspective buyer.

To qualify as an eligible buyer for a Workforce Unit, you must meet the following criteria;

Income:

Your household income must be at or below $84,360 if you are a one-person household, or $94,360 if you are a two-person household

Other Criteria: 

  • You must be a US Citizen

  • You must use the Workforce Unit as your primary residence

  • You certify that you do not own an interest in another residential property

  • You certify that you will not use the Workforce Unit as short or long-term rental housing

Are you a first time homebuyer with a household income below $100,300 (for a one or two person household). If so, you may qualify for low interest rate loan through Maine Housing that provides $3,500 in closing cost assistance and requires a down payment as low as 3.5%.

If you believe you qualify for a Workforce Unit, contact David Marsden for a price list and a copy of the deed restriction.