Avesta Housing

What Avesta Housing does

Avesta Housing Corporation is a 501(c)(3) nonprofit affordable housing provider founded in 1972 and headquartered in Portland, Maine, with a regional office in Exeter, New Hampshire. The organization develops, owns, and manages more than 100 multifamily properties comprising over 3,000 affordable apartments across Maine and New Hampshire, serving low-income individuals and families, seniors, and formerly homeless individuals earning between 30% and 80% of Area Median Income. Avesta operates a vertically integrated affordable housing platform spanning multifamily development (including LEED Platinum and cross-laminated timber construction), property management, homeownership programs (Domus Dwellings for middle-income buyers and A Path Forward for moderate-income acquisitions), and assisted living (Inn at Village Square in Gorham and 75 State Street in Portland). Resident services extend beyond housing to include HUD-certified financial and foreclosure counseling, eviction prevention, resident scholarships, food security partnerships, and a pilot deployment of Senscio Systems' AI-powered Ibis telehealth platform at four properties.

The organization's revenue model blends income-based rental income (tenants typically pay 30% of income), philanthropic donations and grants, project-specific Low Income Housing Tax Credit (LIHTC) equity from partners such as MaineHousing, Evernorth, and WNC & Associates, fixed-fee homebuyer education courses ($45-$50 per person), and senior living service fees at its two assisted-living facilities. Avesta distributes housing through a self-serve "Find An Apartment" web portal, direct property management, and referral partnerships with Portland Housing Authority, Maine Behavioral Healthcare, and other social-service intermediaries, and is governed by a 16-member board. The organization holds the Candid Platinum Seal for nonprofit transparency, manages more than $350 million in assets, and operates with an annual consolidated budget of approximately $58 million.

Name

Avesta Housing

Legal name

Avesta Housing Corporation

Website

https://avestahousing.org

Company type

Private

Founded year

1972

Operating status

Operating

Headcount range

101–250 employees

Short description

Avesta Housing is a 501(c)(3) nonprofit founded in 1972 that develops, owns, and manages 100+ affordable housing properties with 3,000+ apartments in Maine and New Hampshire, serving low-income individuals, families, seniors, and formerly homeless residents through rental housing, homeownership programs, and assisted living.

Ownership category

akta.pro rank

Product category

Affordable Housing Services

NAICS

Residential Property Managers (531311), Continuing Care Retirement Communities and Assisted Living Facilities for the Elderly (62331), Residential Building Construction (2361)

SIC

Operators Of Apartment Buildings (6513)

akta.pro industry

PRIMARYBPAJAFAD

Affordable & Subsidized Housing Property Management (LIHTC, Section 8)

Business & Public Services/Real Estate Services (Brokerage, Property Management)/Residential Property Management

SECONDARYBPAJAFAA

Multifamily Apartment Property Management

Business & Public Services/Real Estate Services (Brokerage, Property Management)/Residential Property Management

SECONDARYHLADAAAB

Affordable/Subsidized Independent Living (HUD/LIHTC) Communities

Healthcare & Life Sciences/Elder Care & Long-Term Care/Independent Living Communities

SECONDARYIMAFABAI

Residential Affordable Housing Development & Construction

Industrials, Manufacturing & Construction/Construction & Civil Engineering/Residential Building Construction

Keywords

• Affordable housing services
• Multifamily property management
• Assisted living facilities
• Homeownership education
• Homeless housing programs

Headquarters

HQ city

Portland

HQ country

United States

HQ region

North America

Offices3 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Supply Chain, Technology or R&D, Marketing or Sales

Revenue model

1. Affordable Housing Rental Income: Avesta manages over 100 properties with more than 3,000 apartments. Residents pay rent based on income (typically 30% of income for affordable units). Revenue is generated from monthly rental payments from tenants in affordable housing properties across Maine and New Hampshire.
2. Philanthropic Donations and Grants: Avesta receives charitable contributions from individuals, foundations, and corporate sponsors to support mission activities, resident services, and development projects. The organization has been recognized with Candid Platinum Seal for transparency.
3. Homebuyer Education and Financial Counseling Fees: Home Buyer Education course costs $45 per person. Multi-Unit Home Ownership course costs $50 per person. One-on-one financial counseling is provided free of charge but generates indirect revenue through HUD certification status.
4. Senior Living Services: Two assisted living communities (Inn at Village Square in Gorham and 75 State Street in Portland) provide residential care and assisted living services for older adults, generating revenue through care fees and housing payments.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels6 records

Core offering

Avesta Housing develops, owns, and manages affordable multifamily rental housing, assisted living communities, and homeownership programs for low- and moderate-income households across Maine and New Hampshire. The organization combines property management with resident support services (HUD-certified financial counseling, eviction/foreclosure prevention, food security, telehealth) and develops properties using sustainable construction practices.

Product overview

Avesta Housing operates a comprehensive affordable housing ecosystem consisting of property management (100+ properties, 3,000+ apartments), assisted living (Inn at Village Square and 75 State Street), homeownership programs (A Path Forward and Domus Dwellings), financial counseling services, and resident support programs. The organization provides housing stability services including eviction/foreclosure counseling, food security partnerships, homeless-to-housing transitions, and educational scholarships. Their real estate development portfolio spans multifamily properties across Maine and New Hampshire, with a focus on sustainable building practices and LEED certification.

Differentiator

Problem solved

Functional benefit

Brands

• Domus Dwellings: A partnership between Avesta Housing, developer Jack Soley, and builder Hebert Construction, Domus is dedicated to developing and selling high-quality, energy-efficient homes for middle-income wage earners in Maine.
• A Path Forward
• Inn at Village Square
• 75 State Street

Products and services

• Inn at Village Square (Assisted Living) Assisted living community in Gorham, Maine providing in-house dining, laundry, housekeeping, activities, and 24/7 care for older adults within Avesta's Village Square senior living campus.
• 75 State Street (Assisted Living) Assisted living community in Portland, Maine offering in-house dining, laundry, housekeeping, activities, and 24/7 professional care staff for older adults.
• A Path Forward Homeownership Program Homeownership program that acquires and restores existing homes, selling them at below-market prices to moderate-income qualified buyers.
• Domus Dwellings (Energy-Efficient Homes) Partnership offering that develops and sells high-quality, energy-efficient homes for middle-income wage earners in Maine.
• Home Buyer Education Course 8-hour class taught by HUD-certified housing counselors meeting one requirement for the $5,000 MaineHousing Advantage Grant. Cost is $45 per person; available in-person and virtually.
• Multi-Unit Landlord Class 3-hour virtual course for aspiring landlords costing $50 per person and approved by hoMEworks.
• Financial Counseling HUD-certified one-on-one financial counseling helping residents and community members identify goals, develop budgets, understand credit, manage debt, and evaluate financial products. Provided free and confidentially.
• Eviction and Foreclosure Counseling HUD-certified counseling that helps residents create action plans to avoid eviction or foreclosure, review legal documents, navigate Maine's foreclosure process, and negotiate with mortgage companies.
• Home for Good (Permanent Supportive Housing) Housing First developments (Huston Commons, Florence House, Logan Place) providing 90 efficiency apartments and 24/7 support services for individuals experiencing chronic homelessness in partnership with Preble Street.
• Affordable Rental Housing Portfolio Affordable rental housing across 100+ properties and 3,000+ apartments in Maine and New Hampshire, with income-based rents typically set at 30% of household income for units restricted to households earning 30% to 80% of Area Median Income.

Quantifiable outcome

• 4,000+ people served daily across Maine and New Hampshire
• +2 more outcomes

Named customers7 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration2 records

AI capability2 records

Feature3 records

Partnerships

14 partnerships are on record, tiered innovative, core, important and minor.

• Senscio SystemsinnovativeTechnology or Integration · 18 August 2020Maine-based AI healthcare company providing Ibis telehealth solution for at-home health self-management for residents with complex chronic conditions at four pilot properties.
• Preble StreetcoreStrategic or Co-development PartnerHome for Good partnership providing permanent housing and 24/7 support services for individuals experiencing chronic homelessness. Three communities (Huston Commons, Florence House, Logan Place) with 90 efficiency apartments serving Portland's most vulnerable residents.
• Maine Behavioral HealthcarecoreStrategic or Co-development PartnerCollaboration for Homeless to Housing program providing support to formerly homeless individuals transitioning from shelters. Includes case management and supportive services coordination.
• Wayside Food ProgramsimportantStrategic or Co-development PartnerFood security partnership distributing community meals to Avesta properties and facilitating food donations from warehouse to Avesta residents and broader community.
• Jack Soley (Domus Developer)coreStrategic or Co-development PartnerDeveloper partner in Domus partnership with Avesta Housing and Hebert Construction. Dedicated to developing and selling high-quality, energy-efficient homes for middle-income wage earners in Maine.
• Hebert ConstructioncoreStrategic or Co-development PartnerBuilder partner in Domus partnership. Completed award-winning restoration of Dr. Milton Wedgewood House in Lewiston as part of 82-unit affordable housing complex with Avesta and Lewiston Housing Authority.
• Allied Cook ConstructionimportantImplementation/ SI/ Consulting PartnerScarborough-based construction firm managing $9.6 million renovation of Avesta's Patriot Place affordable apartment complex in Sanford.
• Reveler DevelopmentimportantStrategic or Co-development PartnerCo-developer with Avesta for Housing First development in Portland's Bayside neighborhood, providing 28 units for chronically unhoused people at former Oxford Street shelter site.
• Early Math and Language Initiative (EMLI)importantStrategic or Co-development PartnerMaine nonprofit providing Family Math program teaching pre-K children in Avesta homes through storytelling, group activities, and one-on-one instruction at West End Apartments and Pearl Place.
• Lewiston Housing AuthoritycoreStrategic or Co-development PartnerPartnership for redevelopment of former Martel School into 44 senior housing units. Lewiston Housing Authority owns and manages the project with Avesta overseeing development.
• MaineHousingcoreStrategic or Co-development PartnerState housing finance agency providing $5,000 Advantage Grant for qualifying homebuyers who complete Avesta's Home Buyer Education course. Partner for LIHTC and other housing programs.
• Boys & Girls Clubs of Southern MaineimportantStrategic or Co-development PartnerPartnership for youth programming at new Avesta development at 15-19 Cedar St. in Portland, expanding youth services alongside affordable housing.
• Furniture FriendsminorStrategic or Co-development PartnerCommunity partner providing furniture and household items to recent immigrants and refugees settling in Avesta properties.
• Greater Portland Family PromiseminorStrategic or Co-development PartnerPartner providing support services to families experiencing homelessness or housing instability in Avesta communities.

Scale indicators8 records

Recent moves6 records

Expansion highlights7 records

Direct peers

• Enterprise Community Partners: Major national nonprofit affordable housing developer and lender with portfolio of 130,000+ homes. Comparable mission-driven model using LIHTC and federal financing for affordable rental development.
• The NHP Foundation: National nonprofit affordable housing organization providing service-enriched affordable rental housing. Comparable mission and operating model to Avesta's resident services-integrated approach.
• BRIDGE Housing: West Coast nonprofit affordable housing developer operating 30,000+ affordable apartments with comprehensive resident services. Directly comparable in mission, funding model, and resident services integration.
• Mercy Housing: National nonprofit affordable housing developer and operator managing 50,000+ affordable apartments across 40 states. Directly comparable to Avesta in mission-driven LIHTC-financed development and resident services model.
• Preservation of Affordable Housing (POAH): National nonprofit that owns, develops, and manages affordable rental housing with a focus on mixed-income communities. Comparable to Avesta's LIHTC-funded portfolio and resident services approach.
• National Church Residences: Nonprofit affordable housing and senior services organization managing 350+ communities nationwide. Comparable to Avesta's combination of affordable rental housing and assisted living operations.
• Beacon Communities: Nonprofit affordable housing developer and manager with portfolio of 20,000+ units. Comparable in LIHTC-financed multifamily development and property management operations.

Others

• Wishrock Group / The Communities at Risk Pool: Affordable housing-focused firm providing capital, asset management, and development services to nonprofit housing organizations. Comparable as ecosystem partner in Maine affordable housing sector.

Broad incumbents

• WinnCompanies: Major multifamily housing owner/manager operating 100,000+ units including affordable housing. Comparable in property management scale and affordable housing focus, though for-profit structure differs from Avesta.
• Volunteers of America National Services: Large national nonprofit operating affordable and supportive housing for vulnerable populations including seniors and homeless individuals. Comparable in mission and Housing First model partnerships like Avesta's Preble Street collaboration.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks5 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/user/AvestaHousing
• Facebookfacebook.com/AvestaHousing
• LinkedInlinkedin.com/company/avestahousing
• Instagraminstagram.com/avestahousing
• Xx.com/avestahousing

Revenue estimate

Valuation estimate

Number of profiles

Profiles13 records

Subsidiaries2 records

Funding overview

Funding rounds1 record

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Avesta Housing