Adams School Condominiums from the Corner of Vesper and Wilson Streets Today
By Carol McCracken (Post # 1,275)
“I’m very excited about these condos,” said Rita Yarnold this afternoon in a telephone interview. Yarnold was talking about the 16 units of moderate income condos that are under construction and will replace the former Marada F. Adams School that formerly stood on the property on Munjoy Hill. Yarnold works for Bay Realty, 559 Congress Street, Portland. She’s the sales agent for Adam School Condominiums. Brief tours of the buildings under construction may be scheduled by contacting Yarnold.
“We are currently accepting reservations,” said the personable Yarnold. “We have six on the list so far. That means they will go to contract within 90 days,” she continued. With each reservation to purchase a unit on the property, a $500. deposit must be included. Of the six who so far have reserved a unit, three of them currently live on the HIll and the remaining three do not. “I believe that all six will consummate the sale because they are really enthusiastic about living at Adams School Condominiums,” said Yarnold. Yarnold grew up on Beckett Street on the Hill and was in the first class that attended Adams School so representing Avesta in this way has special meaning to her.
It’s been a long process for Avesta Housing, the developer of the condos. About five years, Avesta submitted a proposal for the redevelopment of the site. Avesta, a non-profit developer, was the only developed to respond to the RFP. Originally, the proposal called for 40 units on a larger site than was finally agreed upon. The economic downturn played havoc with the financing plans for the condos, delaying their construction and almost derailing the entire project. Fortunately, city councilor Cheryl Leeman learned of federal funds that were applied for and won; hence, the development was able to move forward. “This is a “high performance building with very high energy efficiency,” said Yarnold on this very cold, but sunny day in Maine.
At the groundbreaking ceremony on September 13, 2012, Ethan Macomber-Boxer said: “There will be nothing low quality or tacky here. We are also pleased to carry on the name of Marada Adams here. This location is incredible. One of the most special neighborhoods we know. It has a rich history. It’s near the sea with diversity. We expect these 16 units to sell incredibly quickly.”
Rity Yarnold, sales agent for the Adams School Condominiums said that sales are restricted to buyers whose income does nto exceed 120% of area median incomes. Avesta Housing will review and determine the eligibility of all buyers. Please email Yarnold at cbayreal@maine.rr.com or call 207 – 775-3838 for more information.
Please also visit two previous posts herein for more information. They are Post # 1,209, dated September 5, 2012 and Post # 1,202, dated September 14, 2012. The former post has information about Marada F. Adams for whom the school was named and the name sake for the Park to be part of the redevelopment.